Tue, Jan. 20, 9:43 AM
- Hovnanian (HOV -5%), M/I Homes (MHO -3.1%), and Taylor Morrison (TMHC -4.3%) are all cut at JMP Securities, with MHO and TMHC now Market Performs, and HOV now Underperform.
- Credit Suisse, meanwhile, also cuts Taylor Morrison. Alongside, the team downgrades Ryland Group (RYL -3.2%), Meritage Homes (MTH -3.4%), and PulteGroup (PHM -3.3%) to Underperform, noting margin declines (see KB Home and Lennar earnings) and a slowdown in Texas thanks to oil's plunge.
- There's one upgrade, and that's NVR (NVR), which is boosted to Neutral from Underperform at Credit Suisse.
- ETFs: ITB, XHB
- Previously: KB Home: "Work to be done" to meet goals; -12.6% (Jan. 13)
- Previously: Lennar leads homebuilders lower after earnings (Jan. 15)
Dec. 17, 2014, 9:45 AM
- The sale of its Canadian operations should allow Taylor Morrison (TMHC +3.8%) to invest the proceeds into its core markets and maybe make an acquisition, says JMP Securities, which keeps its Outperform rating.
- Evercore ISI upgrades to Buy with $21 price target.
- Previously: Taylor Morrison selling Canadian operation (Dec. 16, 2014)
Jan. 30, 2014, 9:44 AM
- Another pair of big Q4 results from the homebuilders - today Pulte and Ryland - has the entire sector on the move. ITB +1.5%, XHB +1.1%.
- Yes, mortgage rates put a crimp in sales, but higher prices more than made up for the difference, and D.R. Horton management suggests the sales pace has picked back up in January. Pulte reported new orders off 18% from a year ago, but the value of orders barely fell. Closings in Q4 were down 4% from 2012, but revenues gained 9%.
- Taylor Morrison (TMHC +0.2%), M.D.C. Holdings (MDC +1.2%), Standard Pacific (SPF +1.4%), KB Home (KBH +3.3%), Hovanian (HOV +0.8%), Toll Brothers (TOL +0.9%)
Jan. 28, 2014, 10:15 AM
- The homebuilders have their tails in their air following D.R. Horton's big earnings results which showed reports about the end of the housing recovery may be premature (DHI +8.5%). The company reported average sales price gains of 10%, orders by value up 14%, and the value of properties under contract up 20%.
- "Our weekly sales pace has accelerated in January," says Chairman Don Horton.
- XHB +1.6%, ITB +3%
- Toll Brothers (TOL +3.2%), Lennar (LEN +4.3%), KB Home (KBH +3.8%), Hovnanian (HOV +3.3%), Ryland (RYL +3.2%), Standard Pacific (SPF +3.2%), Comstock (CHCI +3.9%), Pulte (PHM +2.7%), NVR (NVR +1.4%), M.D.C. Holdings (MDC +3.6%), Taylor Morrison (TMHC +4.2%)
Jun. 17, 2013, 5:30 PM
May 20, 2013, 3:08 PMTaylor Morrison Home (TMHC +2.5%) gets a lift from a number of companies initiating coverage today. Credit Suisse starts the shares with an Outperform rating and $30 price target, citing a couple of significant factors; above-average growth driven by U.S. margin expansion and volume growth supported by land position and community count growth. Separately, Wells Fargo also initiates coverage with an Outperform, Citi starts it with a Buy, and JPMorgan with an Overweight. | Comment!
Apr. 10, 2013, 9:58 AM
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