Homebuilder Stocks Down Even After Relatively Positive Notes From Citi
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Shares of homebuilder stocks are down in early trading, even after several positive notes and initiation of coverage from Citi today.
Ryland Group (NYSE: RYL) -$0.71 (-3.29%)
Toll Brothers Inc. (NYSE: TOL) -$0.18 (-0.87%)
Centex Corporation (NYSE: CTX) -$0.42 (-2.82%)
DR Horton Inc. (NYSE: DHI) -$0.57 (-5.00%)
Pulte Homes Inc. (NYSE: PHM) -$0.30 (-2.41%)
MDC Holdings Inc. (NYSE: MDC) -$0.96 (-2.34%)
KB Home (NYSE: KBH) -$0.55 (-3.11%)
Lennar Corp. (NYSE: LEN) -$0.46 (4.03%)
Citi initiated coverage on Pulte Homes and Toll Bros. with a 'Buy' & Centex, D.R. Horton, KB Home, Lennar, M.D.C. Holdings, and Ryland with a Hold.
(NOTE - 1 year ago, all of these stocks traded in the $30-40 range and now all but 3 are trading in the mid-teens. RYL and TOL are trading slightly over $20 per share and MDC has held up the best only down about 20% from its 52-wk high of $48)
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