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DHI

D.R. Horton

$45.50

0.08 (0.18%)

, LEN

Lennar

$51.39

0.24 (0.47%)

07:18
04/17/19
04/17
07:18
04/17/19
07:18

Susquehanna downgrades D.R. Horton, Lennar, TRI Pointe in homebuilder shuffle

As previously reported, Susquehanna analyst Jack Micenko downgraded homebuilders D.R. Horton (DHI), Lennar (LEN) and TRI Pointe (TPH), all to Neutral from Positive, stating that he is "taking money off the table" after a period of solid performance from the group and not making a call into the quarter. After visiting 200+ communities, he thinks 2019 has "evolved into a classic spring season for both demand and the stocks," noting that homebuilders' spring trade is typically characterized by a period of underperformance. He lowered his price target on D.R. Horton shares to $46 from $49, cut his target on Lennar to $57 from $64 and lowered his target on TRI Pointe to $14 from $16.

DHI

D.R. Horton

$45.50

0.08 (0.18%)

LEN

Lennar

$51.39

0.24 (0.47%)

TPH

TRI Pointe

$14.02

0.17 (1.23%)

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DHI D.R. Horton
$45.50

0.08 (0.18%)

03/07/19
ZELM
03/07/19
UPGRADE
ZELM
Buy
D.R. Horton upgraded to Buy from Hold at Zelman
03/25/19
BTIG
03/25/19
NO CHANGE
Target $53
BTIG
Buy
D.R. Horton benefiting from entry-level home construction demand, says BTIG
BTIG analyst Carl Reichardt kept his Buy rating and $53 price target on D.R. Horton after meeting with its management last week, saying the discussions confirmed his bullish thesis on the company in spite of his cautious overall stance on homebuilders. The analyst cites the company's entry level product sales outpacing upgrades and luxury properties while also noting that D.R. Horton has been able to reduce incentives as the current quarter progresses. Reichardt further speculates that the company's buyback activity could become more meaningful this year than he previously modeled.
04/16/19
04/16/19
INITIATION
Target $23

Buy
Forestar Group initiated with a Buy at BTIG
As previously reported, BTIG analyst Ryan Gilbert initiated Forestar Group (FOR) with a Buy rating and a price target of $23, saying that along with its majority shareholder D.R. Horton (DHI), the company's new development model called "lot manufacturing" can "produce higher returns and more consistent growth" than other developers. The analyst believes that Forestar Group can "rapidly expand its model into new markets" and capture share from undercapitalized, fragmented private developers, forecasting the company to grow annual revenue by an average of 122% per year over the next 3 years. Gilbert contends that Forestart Group's growth potential is not priced in.
04/17/19
SUSQ
04/17/19
DOWNGRADE
SUSQ
Neutral
D.R. Horton downgraded to Neutral from Positive at Susquehanna
LEN Lennar
$51.39

0.24 (0.47%)

04/01/19
04/01/19
DOWNGRADE

Outperform
Lennar downgraded to Outperform on valuation at Raymond James
As previously reported, Raymond James downgraded Lennar to Outperform from Strong Buy and maintained a $55 price target. Analyst Buck Horne remains constructive on Lennar's overall outlook, but is moderating his rating citing valuation following last weeks Q1 results.
04/01/19
04/01/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. FedEx (FDX) downgraded to Hold from Buy at Berenberg with analyst Joel Spungin saying his in-depth review of European parcel markets suggests FedEx's integration of TNT "has some way to go." 2. Wells Fargo (WFC) downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Brian Kleinhanzl saying "it's tough to sail a ship without a captain." 3. comScore (SCOR) downgraded to Perform from Outperform at Oppenheimer and to Hold from Buy at Loop Capital and SunTrust. 4. Kinder Morgan (KMI) and Oneok (OKE) downgraded to Hold from Buy at Jefferies. 5. Lennar (LEN) downgraded to Outperform from Strong Buy at Raymond James with analyst Buck Horne saying he remains constructive on Lennar's overall outlook, but is moderating his rating citing valuation following last weeks Q1 results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/05/19
JPMS
04/05/19
NO CHANGE
Target $57
JPMS
Overweight
Lennar added to Analyst Focus List at JPMorgan
JPMorgan analyst Michael Rehaut added Lennar to his firm's Analyst Focus List and reiterates an Overweight rating on the shares with a $57 price target. Lennar has "several levers at its disposal to pull" over the next two years that should result in return on equity expansion and a higher valuation multiple, Rehaut tells investors in a research note. These levers, according the analyst, include a shift towards optioned land, share repurchases, and monetizing non-core assets.
04/17/19
SUSQ
04/17/19
DOWNGRADE
SUSQ
Neutral
Lennar downgraded to Neutral from Positive at Susquehanna
TPH TRI Pointe
$14.02

0.17 (1.23%)

10/25/18
10/25/18
UPGRADE

In Line
TRI Pointe upgraded to In Line on valuation at Evercore ISI
As previously reported, Evercore ISI upgraded TRI Pointe to In Line from Underperform and maintained a $13 price target. Analyst Stephen Kim said the Homebuilders group has sold off sharply and is now trading at a 20% discount to book values, a traditional buy signal. Kim lowered volume and margin assumptions for 2019, but expects book values to still grow and views investor impairment concerns as "overblown."
02/28/19
EVER
02/28/19
DOWNGRADE
EVER
Underperform
TRI Pointe downgraded to Underperform from In Line at Evercore ISI
02/28/19
EVER
02/28/19
DOWNGRADE
Target $13
EVER
Underperform
TRI Pointe downgraded to Underperform at Evercore ISI
As previously reported, Evercore ISI downgraded TRI Pointe to Underperform from to In Line and maintained a $13 price target. Analyst Stephen Kim said the "easy money" has been made since he upgraded the homebuilders back in October with the group up over 25%. His checks also indicate the Spring Selling season is off to a slow start and looking further out, Kim sees headline risk from leadership changes at the Federal Housing Administration and the Federal Housing Fiance Administration that could lead to a slowdown in high-DTI agency lending.
04/17/19
SUSQ
04/17/19
DOWNGRADE
SUSQ
Neutral
TRI Pointe downgraded to Neutral from Positive at Susquehanna

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TSLA

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BA

Boeing

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2.48 (0.66%)

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BA

Boeing

$380.02

2.48 (0.66%)

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MSM

MSC Industrial

$83.37

-0.44 (-0.52%)

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PINS

Pinterest

$24.46

(0.00%)

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HUM

Humana

$240.65

7.645 (3.28%)

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TSLA

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SAM

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SPOT

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MSM

MSC Industrial

$83.37

-0.44 (-0.52%)

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KFS

Kingsway Financial

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AWK

American Water

$104.63

2.32 (2.27%)

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FSNN

Fusion

$0.24

0.0048 (2.01%)

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PSA

Public Storage

$217.43

0.81 (0.37%)

19:42
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V

Visa

$160.14

-0.33 (-0.21%)

19:40
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NAVB

Navidea

$0.17

0.0001 (0.06%)

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TISA

Top Image Systems

$0.84

-0.0069 (-0.81%)

19:37
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FCPT

Four Corners Property Trust

$28.17

0.49 (1.77%)

19:33
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