The Ryland Group Inc.
) unveiled new single family homesites at Cobblestone in
Greenwood, Ind. Priced from $270s onwards, these homesites are
located in the Center Grove School District and will feature the
Estate Collection, which includes 3-car garages, owner's suites
and gourmet kitchen.
HOVNANIAN ENTRP (HOV): Free Stock Analysis
MERITAGE HOMES (MTH): Free Stock Analysis
RYLAND GRP INC (RYL): Free Stock Analysis
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Homeowners will be offered eight spacious floor plans to
choose from. Homes have features like fireplaces with a granite
hearth, stained oak railings and stylish lighting fixtures. The
gourmet kitchen offers an island, equipped with G.E appliances,
stainless steel sink and recessed lighting.
With the housing market gaining momentum, most homebuilding
companies are investing in building more homes to meet the
growing demand. Ryland Group is also aggressively investing
in land and development in order to build more homes. The company
spent $176 million on land acquisition and $62 million on site
development in the second quarter of 2013, which reported on Jul
Ryland Group posted adjusted net earnings of 80 cents per share
in the second quarter of 2013 which surpassed the Zacks Consensus
Estimate of 64 cents by 25% and the year-ago earnings of 14 cents
by a huge margin. The earnings upsurge was driven by top-line
growth and margin expansion.
Total revenue of $493 million lagged the Zacks Consensus Estimate
of $498 million by 1.0%. Reported revenues climbed 67.8% year
over year, driven by better pricing power and volume growth amid
improved market conditions.
Ryland Group carries a Zacks Rank #2 (Buy).
Other stocks in the homebuilding sector that are performing well
and deserve a mention include
Hovnanian Enterprises Inc.
Meritage Homes Corporation
Standard Pacific Corp.
). All the three companies carry a Zacks Rank #2 (Buy).