Ryland Group Receives New Coverage from Analysts at Goldman Sachs (RYL)
Analysts at Goldman Sachs initiated coverage on shares of Ryland Group (NYSE: RYL) in a research report issued to clients and investors on Monday, StockRatingsNetwork.com reports. The firm set a “conviction-buy” rating on the stock.
The analysts wrote, “We resume coverage of The Ryland Group with a Buy rating and add the shares to the Americas Conviction Buy List. The company ranks first on our themes, with presence in most constructive housing markets, a strong land portfolio, and relatively good exposure to the high-end buyer. Further, we believe Ryland has one of the best capital structures in our coverage leading to a peer-high ROE of 21.5% for 2013. The company has exhibited a prudent acquisition strategy, acquiring three smaller builders in markets like Phoenix, Charlotte, Raleigh, and Texas over the past 12 months. We would not be surprised by further acquisitions in growing markets in the recent future. Further, 75% of Ryland’s sales are to the move up market where we expect better purchasing power and mortgage availability than the first-time buyer market. Our $51, 12-month target price implies 32% upside from current levels.”
A number of other firms have also recently commented on RYL. Analysts at Sterne Agee raised their price target on shares of Ryland Group from $52.00 to $60.00 in a research note to investors on Friday, May 24th. They now have a “buy” rating on the stock. Separately, analysts at KeyCorp downgraded shares of Ryland Group from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, May 22nd. Finally, analysts at Raymond James downgraded shares of Ryland Group from a “market perform” rating to an “underperform” rating in a research note to investors on Tuesday, May 14th.
Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $47.45.
Ryland Group (NYSE: RYL) opened at 38.56 on Monday. Ryland Group has a 1-year low of $22.98 and a 1-year high of $50.42. The stock’s 50-day moving average is currently $45.59. The company has a market cap of $1.778 billion and a price-to-earnings ratio of 28.61.
Ryland Group (NYSE: RYL) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.30 by $0.13. The company had revenue of $374.70 million for the quarter, compared to the consensus estimate of $357.69 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The company’s quarterly revenue was up 73.6% on a year-over-year basis. Analysts expect that Ryland Group will post $2.76 EPS for the current fiscal year.
The Ryland Group, Inc is a homebuilders and a mortgage-finance company. In addition, Ryland Mortgage Company and its subsidiaries, and RMC Mortgage Corporation (NYSE: RYL) provide mortgage financing and related services.
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