U.S. homebuilders stumbled earlier this week after numbers showed sales of new homes declined for the second consecutive month. On Monday, the Commerce Department reported sales of new homes declined 7.0 percent in December, following a 3.9 percent declined in November. For the full year, new home sales totaled 428,000 in 2013, an increase of 16.4 percent and the highest since 2008. Here is how some homebuilders reacted Tuesday:
Beazer Homes USA, Inc. (NYSE: BZH) shares traded in the range of $21.79 to $22.71 Tuesday before settling to close at $22.57, an increase of 5.12 percent. The stock appears to be facing some resistance at the $23.04 and $24.78 levels with some support at $22.40. The company is scheduled to release its fiscal first quarter 2014 results before the market opens on Thursday, January 30th. Shares of Beazer Homes have fallen approximately 7.5 percent year-to-date.
More information on Beazer Homes and access to the free equity report can be found at:
Meritage Homes Corp. (NYSE: MTH) shares traded in the range of $45.32 to $47.34 Tuesday before settling to close at $47.23, an increase of 5.10 percent. The stock appears to be facing some resistance at $47.99 with some support at the $46.85 and $45.92 levels. The company reported net orders of 1,131 for the fourth quarter of 2013, an increase of 3.0 percent year-over-year. Shares of Meritage Homes have gained approximately 10.0 percent in the past year.
More information on Meritage Homes and access to the free equity report can be found at:
Taylor Morrison Home Corp. (NYSE: TMHC) shares traded in the range of $19.85 to $20.84 Tuesday before settling to close at $20.43, an increase of 3.29 percent. The stock appears to be facing some resistance at the $21.14 and $21.35 levels with some support at $20.15. The company is scheduled to release its fourth quarter 2013 results before the market opens on Wednesday, February 12th. Shares of Taylor Morrison Home have fallen approximately 9.0 percent year-to-date.
More information on Taylor Morrison Home and access to the free equity report can be found at:
Toll Brothers Inc. (NYSE: TOL) shares traded in the range of $35.48 to $36.65 Tuesday before settling to close at $36.44, an increase of 4.11 percent. The stock appears to be facing some resistance at the $36.73 and $37.00 levels with some support at $36.23. The company in a joint venture with GTIS Partners recently announced the acquisition of Sienna South, the last major undeveloped parcel of Sienna Plantation. Shares of Toll Brothers have fallen approximately 4.0 percent in the past year.
More information on Toll Brothers and access to the free equity report can be found at:
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