Market Overview

UPDATE: UBS Raises PT to $30 on Ryland Group on Unit Orders Growth

Related RYL
Housing Stocks Building Up Following NAHB Release
Notable Hedge Funds Disclose Additions And Reductions To Holdings
When Rate Hikes Come, They Will Ripple Across U.S. Economy (Fox Business)

UBS reiterated its Neutral rating on Ryland Group (NYSE: RYL) and increased its price target from $24 to $30.

UBS commented, "Yesterday, Ryland announced unit orders rose 62% YOY for July & August, driven in part by the add'l sales generated from the Timberstone Homes acquisition (closed 7/12). Reflecting our recent channel checks that suggest demand has remained robust in the early part of Sept, we're raising our 3Q operating forecasts. In turn, we're revising our EPS ests.; ‘12E goes to $0.65, up from $0.60; ‘13E goes to $1.50 vs. $1.30. Forward years have also been adjusted."

Ryland Group closed at $30.08 on Tuesday.

Posted-In: UBSAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (RYL)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters