Meritage Homes Corp
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Despite today's disappointing GDP, the market uptrend remains intact.
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NEW YORK-- Shares of homebuilders tumbled Thursday on a report that U.S. builders broke ground on fewer homes in April, but analysts said the drop could be looked at as a buying opportunity. According to the Commerce Department, builders started construction at a seasonally adjusted annual rate of 853,000, a 16.5 percent drop from the March pace of 1.02 million.
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Despite today's disappointing GDP, the market uptrend remains intact.
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April 26- Meritage Homes Corp:. *S&P Capital IQ raises to hold from sell; raises target by $17 to $55. Reuters Station users, click. 1568.
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While smaller builders are taking the brunt of the price increases, the big public builders may actually be taking advantage of them.
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April 25- Meritage Homes Corp:. *UBS raises price target to $33 from $25; rating sell. Reuters Station users, click. 1568.
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April 25- Meritage Homes Corp:. *Credit Suisse raises price target to $50 from $48.50; rating neutral. Reuters Station users, click. 1568.
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April 25- Meritage Homes Corp:. *FBR capital markets raises price target to $51 from $45; rating market. perform For a summary of rating and price target changes on U.S. companies: Reuters Eikon users, click on RCH/US Reuters 3000 Xtra users, double-click RCH/US Reuters Station users, click. 1568.
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April 25- Meritage Homes Corp:. *KBW raises price target to $45 from $40; rating market perform. Reuters Station users, click. 1568.
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Earnings: Still choppy, but mostly good news for tech and building materials.
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Stocks finished at session lows Monday, posting their sharpest one-day drop this year, as disappointing economic data from China triggered a selloff in commodities.
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CNBC real estate reporter Diana Olick with what to expect in the housing sector this spring.
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Business is brisk, but the new-home market won't be back to normal for a while, Meritage CEO Steven Hilton said.
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Check out which companies are making headlines after the bell Wednesday:
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CNBC's Diana Olick looks at today's mortgage application numbers. A drop in the rate of the 30-year fixed sent mortgage apps higher, she reports.
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Despite an improving housing market and firming prices, it's going to be difficult to achieve what is already priced into the stocks, which skyrocketed last year, an analyst told CNBC.
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The divide between new and existing home prices is wider than ever and as one analyst notes, "The only people who can buy are people who are very well off, so that's created a positive mix shift."
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After improving in 2011, foreclosures ramped up again in 2012, and will likely continue to rise as banks clear out backlogs of distressed loans. More than half of the top 200 U.S. housing markets saw foreclosure numbers rise, according to a new report from RealtyTrac, reports CNBC's Diana Olick.
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Women are getting married later, having kids later and out of wedlock, all prompting them to seek the convenience of large, full-service rental apartment buildings, reports CNBC's Diana Olick.
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The nation's home builders continue to feel much better about their industry.
