UPDATE: Williams Financial Group Initiates Beazer Homes at Hold

Williams Financial Group has published a research report on Beazer Homes (NYSE: BZH) and has initiated coverage on the company with a Hold rating and $4 price target.

In the report, Williams Financial Group writes, "We do not expect the company to return to profitability until at least 2014, even as most others in the group have turned or will turn this year. Gross profit improved in the Dec. quarter, but still lowest among our covered names. In our opinion, the company's less than attractive land sites will continue pressuring gross margins over the next several years."

Beazer Homes is currently trading up $0.03 from Friday's $3.48 closing price.