KeyBanc Downgrades Ryland Homes (RYL) to Hold; Valuation Call

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November 1, 2011 7:48 AM EDT
Get Alerts RYL Hot Sheet
Price: $40.83 --0%

Rating Summary:
    11 Buy, 9 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 11 | New: 25
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KeyBanc downgraded Ryland Homes (NYSE: RYL) from Buy to Hold.

KeyBanc analyst said, "We lowered our rating on The Ryland Group to HOLD on valuation, with the stock trading near 1.4x tangible book, our target multiple. RYL's 13% community growth in 3Q11 helped orders grow 30%; however, we think flat 2012 housing starts limits its valuation upside from here until sustained earnings visibility become more evident."

KeyBanc adjusts FY estimates: 2011E: $(0.65) from $(0.74); 2012E: $0.36 from $0.40; and 2013E: $1.19 from $1.26

For more ratings news on Ryland Homes click here and for the rating history of Ryland Homes click here.

Shares of Ryland Homes closed at $13.50 yesterday.

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