Homebuilding Stocks Underperform Ahead of April/May Data Releases (XHB)
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Price: $102.47 -0.16%
Rating Summary:
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Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Stocks in the Homebuilding sector are trading lower Monday, possibly on the heels of a concerning note from MKM Partners' Megan McGrath. The SPDR S&P Homebuilders ETF (NYSE: XHB) is currently down about 1.7 percent.
The analyst warned that builders may pause ahead of housing data for the months of April and May. Housing starts for April are due out on May 16th, existing home sales are expected out on May 22nd, new home sales figures will be out May 23rd, and the S&P/Case-Shiller Index will be released on May 29th.
Elsewhere in the sector, Ryland Group (NYSE: RYL) was upgraded from Sell to Fairly Valued at CRT Capital earlier. The firm cited Q1 results from the company last week, but also said there's more to like: better-than-expected gross margins and strong comparable store sales.
Leading the group lower is Pulte (NYSE: PHM), down more than 3.3 percent. Ryland shares are down about 1.5 percent, shares of KB (NYSE: KBH) are down 3.2 percent, and Toll Bros. (NYSE: TOL) shares are down about 1.4 percent.
The analyst warned that builders may pause ahead of housing data for the months of April and May. Housing starts for April are due out on May 16th, existing home sales are expected out on May 22nd, new home sales figures will be out May 23rd, and the S&P/Case-Shiller Index will be released on May 29th.
Elsewhere in the sector, Ryland Group (NYSE: RYL) was upgraded from Sell to Fairly Valued at CRT Capital earlier. The firm cited Q1 results from the company last week, but also said there's more to like: better-than-expected gross margins and strong comparable store sales.
Leading the group lower is Pulte (NYSE: PHM), down more than 3.3 percent. Ryland shares are down about 1.5 percent, shares of KB (NYSE: KBH) are down 3.2 percent, and Toll Bros. (NYSE: TOL) shares are down about 1.4 percent.
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