Ryland Group (RYL) NewsBite - Analyst's Comments Boost RYL

Wednesday, August 27, 2008 10:16 AM EDT

Ryland Group (NYSE: RYL) opened at $20.75. So far today, the stock has hit a low of $20.70 and a high of $21.60. RYL is now trading at $21.47, up $0.62 (2.97%). Over the last 52 weeks the stock has ranged from a low of $18.11 to a high of $37.85. Shares of RYL are rising with other homebuilders after an analyst with Wachovia said in an interview last night that the housing market is approaching a bottom, which could be reached late this year or early next year. This could be good news for RYL. Technical indicators for the stock are bearish and S&P gives RYL a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on RYL the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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