Tag Archives: Analyst says take advantage of dismal housing reports

In a recent homebuilding note, Jay McCanless, an analyst for Sterne Agee, encourages investors to take advantage of the weakness created by national housing reports. The analyst recommends buying Meritage Homes, D.R. Horton and The Ryland Group. “We believe investors should buy into any stock price weakness created by April’s housing starts data which, at a seasonally adjusted annual rate of 853,000 homes, was below consensus estimates of 969,000 homes,” McCanless said in the report. According to McCanless, national housing data is not typically reflective of market conditions for Sterne […]