KeyBanc Downgrades Ryland Group (RYL) to Underweight

KeyBanc downgraded Ryland Group (NYSE: RYL) from Hold to Underweight with a price target of $30.00.

Analyst Kenneth R. Zener said, "We lower our rating on The Ryland Group, Inc. to UNDERWEIGHT from HOLD with a $30 target as we expect: 1) lower than Street 3Q14 order growth; 2) lower 2015 earnings by 18%; and 3) a decline in its current ~30% price to book premium vs. its peers. Our $30 target equals 1.6x 2014 estimated book value, in line with its peers current average of 1.6x, and roughly 10x our $3.06 estimate, below consensus of $3.62."

For an analyst ratings summary and ratings history on Ryland Group click here. For more ratings news on Ryland Group click here.

Shares of Ryland Group closed at $34.06 yesterday.

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