Research Reports Initiation on Residential Construction Stocks -- CalAtlantic Group, Hovnanian Enterprises, Beazer Homes USA, and MDC Holdings

Aug 16, 2016, 08:07 ET from Chelmsford Park SA

NEW YORK, August 16, 2016 /PRNewswire/ --

The U.S. Residential Construction segment has remained unscathed despite global economic uncertainties. However, it continues to be challenged by weak labor-force participation. Today, reviews the following stocks: CalAtlantic Group Inc. (NYSE: CAA), Hovnanian Enterprises Inc. (NYSE: HOV), Beazer Homes USA Inc. (NYSE: BZH), and MDC Holdings Inc. (NYSE: MDC). Learn more about these stocks by downloading their free report at:

CalAtlantic Group  

Irvine, California headquartered CalAtlantic Group Inc.'s stock finished Monday's session 1.70% higher at $36.45 with a total volume of 792,799 shares traded. The Company's shares have advanced 6.29% over the previous three months. The stock is trading above its 200-day moving average by 3.15%. Furthermore, shares of CalAtlantic Group, which operates as a homebuilder under the CalAtlantic Homes name in the US, have a Relative Strength Index (RSI) of 43.91.

On July 28th, 2016, CalAtlantic Group reported that revenues from home sales for the Q2 2016 increased 17%, to $1.6 billion, as compared to the pro forma Q2 2015. The company had net income of $112.8 million, or $0.83 per diluted share, in Q2 2016 versus net income of $57.2 million, or $0.72 per diluted share, in the year ago quarter. CalAtlantic had net new orders of 3,921 in the reported quarter, up 150% on y-o-y basis.

On August 1st, 2016, research firm RBC Capital Markets reiterated its 'Outperform' rating on the Company's stock with a decrease of the target price from $48 a share to $43 a share. The free research report on CAA is available at:

Hovnanian Enterprises  

On Monday, shares in Red Bank, New Jersey headquartered Hovnanian Enterprises Inc. ended the session at $1.81, jumping 6.47%. The stock recorded a trading volume of 1.86 million shares, which was above its three months average volume of 1.33 million shares. The Company's shares have gained 2.26% in the last one month and 13.12% in the previous three months. The stock is trading 4.78% above its 50-day moving average and 8.51% above its 200-day moving average. Moreover, shares of Hovnanian Enterprises, which designs, constructs, markets, and sells residential homes in the US, have an RSI of 55.71.

On August 12th, 2016, Hovnanian Enterprises announced that its wholly-owned subsidiary, K. Hovnanian Enterprises, Inc., has extended the early tender deadline by which holders of its 8.625% Senior Notes due 2017 must tender such Notes to an expiration time of 8:30 a.m., New York City time, on September 7th, 2016. The company noted that all Notes validly tendered and not withdrawn at or before the Expiration Time will be eligible to receive the total consideration of $1,010 per $1,000 principal amount of Notes purchased pursuant to the Tender Offer and Consent Solicitation. The Total Consideration includes a payment of $30.00 per $1,000 principal amount of Notes. The complimentary report on HOV can be downloaded at:

Beazer Homes USA  

Atlanta, Georgia headquartered Beazer Homes USA Inc.'s stock ended yesterday's session 3.61% higher at $10.34. A total volume of 878,898 shares was traded, which was above their three months average volume of 697,200 shares. The Company's shares have advanced 17.50% in the past one month and 40.11% over the previous three months. The stock is trading 21.69% above its 50-day moving average and 9.11% above its 200-day moving average. Additionally, shares of Beazer Homes USA, which operates as a homebuilder in the US, have an RSI of 70.87.

On August 1st, 2016, Beazer Homes announced that it has prepaid an additional $50 million of its 2-year Secured Term Loan, leaving an outstanding principal balance of $72.5 million and bringing year to date debt reduction to over $121 million. The Company now intends to reduce debt by $150 million in fiscal 2016 and an aggregate of at least $250 million through fiscal 2018. Visit us today and download our complete research report on BZH for free at:

MDC Holdings  

At the close on Monday, shares in Denver, Colorado-based MDC Holdings Inc. recorded a trading volume of 381,662 shares. The stock finished 1.93% higher at $25.34. The Company's shares have gained 14.49% in the previous three months and 2.53% on a YTD basis. The stock is trading above its 50-day and 200-day moving averages by 1.83% and 6.85%, respectively. Furthermore, shares of MDC Holdings, which through its subsidiaries, engages in homebuilding and financial services businesses in the US, have an RSI of 49.42.

On August 3rd, 2016, MDC Holdings announced that home sale revenues for Q2 2016 increased 24% to $571.2 million compared to $461.7 million for the prior year period.

On August 8th, 2016, research firm Deutsche Bank downgraded the Company's stock rating from 'Buy' to 'Hold'. The research firm also revised downwards its previous target price from $28 to $27. Get free access to your technical report on MDC at:


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