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Wednesday, September 18, 2013

Stocks to Watch –Homebuilding, September 19, 2013

Home building stocks get a lift from a positive NAHB number last few months, as the sentiment reading for this month climbed to its highest level in five years. It's important to note however, that despite the improvement in starts, home building still remains well off normal levels.


Home builders boosted by Fed and home starts, but long-term problems seen

Home builders enjoyed a double boost today from the Fed's decision to maintain QE and keep interest rates low plus a report of resilient construction of single-family homes in August, but the Fed’s action simply kicks the can on a reduction of the bond-buying program and a subsequent increase in rates.

ISI Group thinks the move doesn’t bode well in the long term for home builders: "It speaks of prolonged economic weakness that ultimately may negatively affect the builders if job growth continues its puny pace."

But investors today were enjoying the short term, hoping a halt or slight reversal in the rise in rates will help spark home sales: BZH +4.4%, CVCO +4.8%, DHI +6.9%, HOV +5.3%, KBH +8.2%, LEN +6.5%, MDC +5.2%, MHO +5%, MTH +6.8%, NVR +3.9%, PHM +5.4%, RYL +8.7%, SPF +4.4%, TOL +5.1%.

ETFs: XHB, ITB, PKB.

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Below these are the Home building (Residential construction) stocks  of the day September18, 2013

Home Building
Ticker    Company      Change
RYL     Ryland Group Inc.        8.72%
GFA    Gafisa S.A.       8.63%
KBH    KB Home        8.22%
DHI     DR Horton Inc.            6.92%
MTH    Meritage Homes Corporation   6.83%
LEN     Lennar Corp.    6.54%
PHM    PulteGroup, Inc.           5.47%
HOV    Hovnanian Enterprises Inc.        5.33%
MDC   MDC Holdings Inc.      5.20%
TOL     Toll Brothers Inc.          5.17%
MHO   M/I Homes, Inc.           4.99%
HXM   Homex Development Corp.      4.51%
BZH     Beazer Homes USA Inc.          4.43%
SPF     Standard Pacific Corp. 4.40%
XIN     Xinyuan Real Estate Co., Ltd.   3.95%
NVR    NVR Inc.         3.93%
TMHC Taylor Morrison Home Corporation      2.32%
TPH     TRI Pointe Homes, Inc.            1.07%
AVHI   AV Homes, Inc            0.86%
CHCI   Comstock Homebuilding Companies Inc.          -2.08%

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