|Bid||72.85 x 800|
|Ask||73.04 x 1400|
|Day's Range||71.49 - 73.23|
|52 Week Range||29.90 - 73.23|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||27.65%|
|Beta (5Y Monthly)||1.47|
|Expense Ratio (net)||0.42%|
Shares of home builders were broadly lower Wednesday, after data showing February housing starts dropped a lot more than expected, while building permits took a surprise turn lower. The iShares U.S. Home Construction ETF dropped 1.4%, with 42 of 46 equity components losing ground. Among the more active home builders, shares of Lennar Corp. lost 0.6%, Toll Brothers Inc. gave up 1.6%, D.R. Horton Inc. declined 1.1% and PulteGroup Inc. shed 0.9%. Elsewhere, shares of home improvement retailers Home Depot Inc. inched less than 0.1% lower while Lowe's Companies Inc. were down 0.7%. In comparison, the Dow Jones Industrial Average gained 63 points, or 0.2%, while the S&P 500 slipped 0.6%.
Shares of M.D.C. Holdings Inc. sank 5.9% in morning trading Friday, after BofA Securities analyst John Lovallo turned bearish on the homebuilder, citing concerns over valuation and near-term housing affordability. He cut his rating to underperform from neutral, while keeping his price target at $63. "We view M.D.C. as a well-run, well-positioned homebuilder but believe the year-to-date run in the stock fully encompasses these positive, particularly considering the affordability challenges we expect in the months ahead," Lovallo wrote in a note to clients. The stock has rallied 26.4% year to date, and closed at a 16-year high on Wednesday. Lovallo said affordability could be hurt by rising raw materials prices and interest rates, and as coming stimulus measures support further gains in home prices. M.D.C.'s stock selloff comes as the iShares U.S. Home Construction ETF shed 2.3%, while the S&P 500 fell 0.5%. Among M.D.C.'s more active peers, shares of D.R. Horton Inc. slid 4.4%, Lennar Corp. lost 4.0%, PulteGroup Inc. declined 3.2% and Toll Brothers Inc. gave up 3.7%.
Goldman Sachs is bullish on the economic recovery, and has offered up a list of stocks it thinks you should consider buying.