|Bid||37.19 x 4000|
|Ask||0.00 x 900|
|Day's Range||37.48 - 37.97|
|52 Week Range||28.25 - 40.97|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.33|
|Expense Ratio (net)||0.43%|
Following a first-quarter rebound for U.S. equities, the absence of a trade deal certainly pumped the brakes on a sustained rally in the second quarter. Certain exchange-traded funds (ETFs) were able to ...
Many corners of the market have seen rough trading while a few still stand tall. Below, we have highlighted ETFs from the best and worst zones at the halfway mark in Q2.
Housing Sales Data Look Promising—Can Homebuilders Benefit?(Continued from Prior Part)Homebuilders’ reactions to housing starts reportGiven the significant setbacks in housing data over the last few months, homebuilders’ confidence has taken a
KB Home (KBH) was upgraded to 'outperform' from 'sector perform' at RBC Capital Markets and the firm increased its price target on the homebuilder by $5 to $30. As a result, KB Home shares rose 2.5% to $27.47 in trading Thursday. KBH is just one of the stocks that may signal a trend in improving homebuilder stocks.
A measure of industry sentiment among home builders jumped more than expected, in a possible sign that they may increase their building activity to meet housing market demand.
How to Make Sense of Economic Indicators and Invest Accordingly(Continued from Prior Part)Building permitsWhen real estate developers or REITs like AvalonBay (AVB) are confident about the economy, they build more in anticipation of future demand
Equipment manufacturer Caterpillar reported better-than-expected first-quarter earnings on Wednesday, which could inspire homebuilder exchange-traded funds (ETFs) in what’s been a challenging environment ...
Existing home sales for March declined and missed market expectations. The D. R. Horton stock was also downgraded. It is better to stay away from housing ETFs.
Shares of PulteGroup Inc. shot up 3.9% toward a 9-month high in premarket trade Tuesday, after the home builder reported a first-quarter profit and revenue that beat expectations. Net income was $166.8 million, or 59 cents a share, compared with $170.8 million, or 59 cents a share, in the same period a year ago, beating the FactSet EPS consensus of 47 cents. Revenue increased 1.4% to $2.00 billion, above the FactSet consensus of $1.93 billion, as a 2% increase in home sale revenue to $1.9 billion was driven by a 2% increase in average selling price to $421,000. New orders totaled 6,463 homes valued at $2.7 billion, down from 6,875 homes valued at $2.9 billion a year ago. "Helped by the recent decline in mortgage rates, homebuyers have been steadily returning to the market after a period of slowing demand that began in the second half of 2018," said Chief Executive Ryan Marshall. The stock, on track to open at the highest level seen during regular-session hours since July 19, 2018, has run up 16.3% year to date, while the iShares U.S. Home Construction ETF has rallied 26.3% and the S&P 500 has gained 16.0%.
Now Musk Wants a Million Self-Driving Teslas There he goes again, as Reagan would say. Elon Musk and his outlandish predictions that he spouts out in order to get people to buy Tesla (NASDAQ:TSLA) stock even though the company keeps losing money. God bless him. Now he says that 1 million self driving Tesla robotaxis […]The post Market Morning: Musk Million Car March, Housing Slump, Beyond Public Meat, Starbucks Out of Luckin appeared first on Market Exclusive.
The home builder sector was knocked broadly lower morning trade Monday, after data showing that existing-home sales for March fell more than expected. The iShares U.S. Home Construction ETF dropped 1.1%, with 40 of 47 components trading lower, to pull back from Thursday's 8-month closing high. Among the most-active home builder shares, D.R. Horton Inc. slumped 1.9%, KB Home shed 1.5%, Lennar Corp. lost 1.3%, Toll Brothers Inc. fell 1.1% and TRI Pointe Group Inc. slid 1.9%. Earlier, the National Association of Realtors said Monday that March existing-home sales ran at a seasonally adjusted annual rate of 5.21 million, down 4.9% from February and below expectations of a 5.3 million rate. The home construction ETF has still climbed 26% year to date, while the S&P 500 has gained 16%.
It could be good vibrations ahead for homebuilder-focused exchange-traded funds (ETFs) after the National Association of Home Builders/Wells Fargo Housing Market Index rose a point during the month of ...
Sales of newly-constructed homes were much higher in February, but earlier months’ data were marked down, leaving the housing market plodding just ahead of its year-ago pace.
Hovnanian Enterprises Inc. said Friday it executed a 1-for-25 reverse stock split, with the stock trading on a split-adjusted basis as of 12:01 a.m. Eastern. The home builder's stock closed Thursday at 55 cents, which on a split-adjusted basis would be $13.75. The was trading 9.8% below that level in premarket trading. On a pre-split basis, the stock had closed below $1.00 since Dec. 14. The company said the reverse split was intended to regain compliance with the NYSE's minimum average closing price requirement. It has tumbled 70% over the past 12 months through Thursday, while the iShares U.S. Home Construction ETF has lost 10.3% and the S&P 500 has gained 6.6%.
The 10-year benchmark Treasury yield fell on Wednesday, causing homebuilder exchange-traded funds (ETFs) to gain strength, such as the iShares US Home Construction ETF (ITB) and SPDR S&P Homebuilders ETF (XHB) . The 10-year note hit its lowest level since late 2017, causing fears of a global economic slowdown that caused the Dow Jones Industrial Average to fall as much as 200 points. Investors are honing in on the higher 3-month yield relative to the lower 10-year yield--a condition that causes an inverted yield curve--a possible signal of a forthcoming recession.
Editor's note: This article is a part of InvestorPlace.com's Best ETFs for 2019 contest. Vince Martin's pick for the contest is the iShares Dow Jones US Home Const. ETF (BATS:ITB).Heading into 2019, the case for the iShares Dow Jones US Home Const. ETF (BATS:ITB) was reasonably simple. Housing and construction stocks were hammered in 2018. In fact, ITB stock dropped some 31%. While there were concerns -- slowing new construction spending, labor shortages, rising input costs -- the steepness of the decline seemed to be an overreaction.That case is why I chose ITB as my pick for the Best ETF of 2019. So far, the call is working out. ITB stock has gained 16% so far this year -- and risen 25% from late December lows.InvestorPlace - Stock Market News, Stock Advice & Trading TipsYet even with those gains, the core bull case here still holds. Many housing stocks still are cheap. The sector on the whole doesn't seem to be getting enough credit. While the rest of the market signals continuing economic strength, ITB stock still discounts quite a bit of risk. Particularly for investors who believe the market, and the economy, will stay healthy going forward, ITB remains an attractive choice. The iShares Dow Jones US Home Const. ETF in 2019Again, ITB has performed well so far this year. But in context, the 16% gains so far this year perhaps aren't that impressive. The S&P 500 index has gained almost 12%, meaning housing and construction stocks have only modestly beaten the market so far in 2019. * 7 Marijuana Stocks to Play the CBD Trend That gap actually is narrower than a housing bull might have expected. After all, the divergence in 2018 was much sharper: ITB dropped a whopping 31% against just a 6% decline in the index. Going back to the beginning of 2018, ITB has declined 13%, and the S&P 500 has risen nearly 5%.The question at the moment is whether that gap should persist or narrow. Skeptics might point to slower new home sales, in particular, as a reason for caution. Whether it's demand for rentals among younger customers or a literal lack of land in popular markets like Denver and Seattle, housing simply is a tougher industry than most right now. ITB's five largest holdings are homebuilders, with Lennar (NYSE:LEN) and D.R. Horton (NYSE:DHI) alone comprising 27.3% of the fund.But homebuilder stocks actually have done quite well this year: LEN has gained 25% and DHI 21%. And yet the group remains cheap, with those stocks generally trading at a single-digit multiple to earnings. The rest of the fund, meanwhile, has a potential catalyst as 2019 rolls on. Will Smaller Positions Boost ITB Stock?Even with homebuilders doing better, building suppliers and retailers are performing mostly in line with the market. Home Depot (NYSE:HD), for instance, has modestly underperformed the market. So has The Sherwin-Williams Company (NYSE:SHW), the fund's eighth-largest holding.The case for ITB was that even if new home sales stayed soft, a strong economy would lift renovation and remodeling spending. Yet it has been ITB's exposure to new construction, not R&R, that has driven a majority of its gains so far.Over the rest of 2019, then, there's a clear path for ITB to continue to rise. Economic strength should increase confidence toward renovation and remodeling, providing another driver for the fund's holdings.In that context, the bull case here seems largely intact. Even with a strong start to the year, construction stocks still are lagging the market over a broader timeframe. That leaves room for ITB to continue to outperform in coming quarters. And if new home sales numbers can strengthen, the ETF could skyrocket.ITB does require the U.S. economy to stay strong, and any macro weakness is the biggest risk to the thesis. But for investors projecting that strength will continue, ITB remains a solid choice for market-beating returns.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dual-Class Stocks That Will Outperform * 7 Reasons Why Apple Streaming Won't Move the Needle for Apple Stock * 7 A-Rated Stocks to Buy in the Second Quarter Compare Brokers The post Best ETFs for 2019: The Rally in the iShares Home Construction ETF Should Continue appeared first on InvestorPlace.
The home-building sector was trading mostly lower Tuesday, in the wake of disappointing housing starts data and a warning of a wider-than-expected loss from roofing materials distributor Beacon Roofing Supply Inc. . The iShares U.S. Home Construction ETF fell 0.8%, with 31 of 48 components losing ground. Earlier, the Commerce Department reported February housing starts fell almost 9% to an annual pace of 1.16 million, below the average forecast of economists surveyed by MarketWatch of a seasonally adjusted rate of 1.21 million. And Beacon Roofing's stock tumbled 7.2% after the company said late Monday that it expected a fiscal second-quarter adjusted loss of 45 cents to 55 cents, compared with the current FactSet loss-per-share consensus of 39 cents, and the loss consensus of 25 cents a share at the end of February. The company blamed "extremely harsh weather conditions" for the miss. Meanwhile, shares of KB Home , which reports fiscal first-quarter results after the close, fell 0.6%, and Lennar Corp. , which reports before Wednesday's open, slumped 1.3%. The home construction ETF has rallied 16% year to date, while the S&P 500 has gained 13%.
One of this year's most impressive redemption stories on Wall Street is that of the homebuilders. After plunging nearly 31 percent last year, the Dow Jones U.S. Select Home Construction Index is higher ...
Shares of home builder KB Home surged 4.8% in afternoon trade Monday, enough to pace the home construction sector's gainers, after an upbeat call by analyst Jack Micenko at Susquehanna, a day ahead of the company's (KBH) fiscal first-quarter results. The company is slated to report results after Tuesday's close. "We particularly like the set up for KBH into tomorrow's print," Micenko wrote in a note to clients. "The focus will be on orders and we think they will come in better than consensus." The FactSet consensus for deliveries is 2,187 units and for new orders is 2,576. Micenko said he believes Lennar Corp. , which is scheduled to report results before Wednesday's open, can also beat orders expectations given conservative guidance, but is worried about gross margin guidance for the rest of the year. Lennar shares rose 3.0% in afternoon trade. KB Home's stock has rallied 24.8% year to date and Lennar's stock has run up 26.8%, while the iShares U.S. Home Construction ETF has hiked up 16.9% and the S&P 500 has gained 9.4%.
Sales of previously-owned homes surged back, leaving forecasts in the dust, reaffirming strong demand for housing amid familiar headwinds.
Investors could make a near-term bet on rate sensitive sectors in the basket form as these will continue to trade smoothly if interest rates remain steady.