Why These Homebuilders' Stocks Jumped More Than 25% in April
Shares of residential homebuilders D.R. Horton (NYSE: DHI), Lennar (NYSE: LEN), and PulteGroup (NYSE: PHM) rose more than 25% in April, according to data provided by S&P Global Market Intelligence. Horton's share price improved the most, jumping 38.9% during the month. Lennar saw its shares rise 31.1%, while PulteGroup trailed with a 26.7% gain.
Homebuilders have fared better than many companies in 2020. Shares of Horton and Lennar are actually outperforming the market, with respective year-to-date price declines of 8.9% and 10.5%, compared to the S&P 500's 10.9% loss. PulteGroup is again the laggard, with shares down 27.4% for the year despite a first-quarter earnings beat.
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Source Fool.com
