Shares of Toll Brothers and PulteGroup Looking Strong as Applications for Residential Construction Hits 4-Year High
The Paragon Report Provides Stock Research on Toll Brothers and PulteGroup
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 08/20/12 -- A steady flow of positive data has shown that the U.S. housing market is on the steady road to recovery, and U.S. home builders have taken advantage. Homebuilders surged last Thursday after the Commerce Department reported that applications for residential construction permits in July rose to their highest levels in nearly four years. The Paragon Report examines investing opportunities in the Residential Construction Industry and provides equity research on Toll Brothers Inc. (NYSE: TOL) and PulteGroup, Inc. (NYSE: PHM).
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Data from the Commerce Department showed that applications in July reached an 812,000 annual rate, the highest level since August 2008. According to analysts surveyed by Bloomberg permits were projected to be at a 769,000 annual rate. The construction of single-family homes and apartments, after reaching the fastest pace in June since October 2008, fell 1.1 percent in July.
"We remain constructive on a prolonged multi-year recovery in housing starts and sales, but we continue to believe that homebuilder stocks, on average, are not discounting in the number of years it may take to return to mid-cycle starts and sales," said Will Randow, a Citi analyst.
Paragon Report releases regular market updates on the Residential Construction Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
Toll Brothers builds an array of luxury residential communities, principally on land it develops and improves: single-family detached and attached home communities, master planned resort-style golf communities, and urban low-, mid- and high-rise communities. Shares of the company are up nearly 60 percent in 2012.
Pulte Homes is a national brand of PulteGroup. Communities built by Pulte Homes are designed to deliver the best quality of life for homeowners. As the most awarded homebuilder in customer satisfaction, Pulte Homes has consistently ranked among top homebuilders in third-party customer satisfaction studies. Shares of the company have more than doubled this year.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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Datum: 20.08.2012 - 12:20 Uhr
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