Market Overview

UPDATE: Williams Financial Reiterates Hold Rating, Raises PT on Standard Pacific Homes

Share:
Related SPF
Benzinga's Top Downgrades
Housing ETFs Near 8-Year Highs
Zacks Investment Ideas feature highlights: Standard Pacific and Heritage Insurance - Press Releases (Zacks)

In a report published Monday, Williams Financial Group reiterated its Hold rating on Standard Pacific Homes (NYSE: SPF), and slightly raised its price target from $5.00 to $6.00.

Williams Financial noted, “Overall, we are pleased with the substantial new order growth this quarter as the move up segment continues gaining traction. We believe SPF can continue driving growth in higher ASP markets such as CA, and FL where demand levels have returned, even outstripping supply in some areas. We believe the company's large spec unit sales will likely temper gross margin expansion and would prefer to see greater restraint in spec sales volumes in areas where land replenishment costs are high. In our view, the higher volumes through a spec strategy should be reserved to those regions with ample land opportunities and limited ability to drive prices. We do however believe the company is making incremental operational improvements which should deliver long term growth potential as the move-up buyer segment accelerates further.”

Standard Pacific Homes closed on Friday at $6.02.

Latest Ratings for SPF

DateFirmActionFromTo
May 2015Raymond JamesDowngradesOutperformMarket Perform
May 2015Evercore PartnersUpgradesHoldBuy
Feb 2015Compass PointDowngradesBuyNeutral

View More Analyst Ratings for SPF
View the Latest Analyst Ratings

Posted-In: Williams Financial GroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (SPF)

Around the Web, We're Loving...