Homebuilders (XHB) Sink as PulteGroup (PHM) Downgraded to Neutral
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Price: $109.02 -0.47%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Homebuilder stocks are moving lower early Monday amid a mostly flat equities market. SPDR S&P Homebuilders (NYSE: XHB) is lower by 1.4 percent. The downdraft appears to be profit taking following a move higher at the end of last week. It could also be tied to an analyst downgrade of PulteGroup (NYSE: PHM) by Citi. Citi downgraded PHM from Buy to Neutral.
Shares of Lennar Corp. (NYSE: LEN) and Toll Brothers Inc. (NYSE: TOL) are both lower by 1 percent. PulteGroup shares are lower by a similar amount. The stock is higher by over 9 percent in the past five trading sessions. The company released Q2 earnings last week.
Shares of Lennar Corp. (NYSE: LEN) and Toll Brothers Inc. (NYSE: TOL) are both lower by 1 percent. PulteGroup shares are lower by a similar amount. The stock is higher by over 9 percent in the past five trading sessions. The company released Q2 earnings last week.
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