Raymond James No Longer Bullish on Homebuilders (TOL, LEN, PHM, CTX, RYL)

November 13, 2008 12:25 PM EST

Raymond James downgraded several stocks in the homebuilder sector this morning.

  • Centex (NYSE: CTX) from Outperform to Market Perform
  • Lennar (NYSE: LEN) from Outperform to Market Perform
  • Pulte Homes (NYSE: PHM) from Outperform to Market Perform
  • Ryland Group (NYSE: RYL) from Strong Buy to Market Perform
  • Toll Brothers (NYSE: TOL) from Strong Buy to Market Perform
Homebuilders are tumbling today; Ryland is down nearly 10%, Toll Brothers is down 9%, Pulte is down 7%, Lennar is down 10.7% and Centex is leading the pack lower, down 11.3%.


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Stocks Mentioned

CTX 12.34

+0.54 +4.58%
Volume: 4,557,672
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LEN 11.42

+0.85 +8.04%
Volume: 7,809,559
Track LEN

PHM 12.35

+0.30 +2.49%
Volume: 7,054,521
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RYL 19.88

+0.73 +3.81%
Volume: 1,922,547
Track RYL

TOL 21.70

+1.01 +4.88%
Volume: 3,895,424
Track TOL


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