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01/16/2005
April 20,2004
Investor and Industry Research Portal for the Homebuilder Sector (www.homebuilderstocks.com) Features Analyst Interview POINT ROBERTS, Wash., April 20, 2004 - www.homebuilderstocks.com, a global investment research portal for the homebuilder industry is pleased to offer investors perspective and research on the homebuilder sector, following some of the strongest gains in the sectors history. The site is pleased to provide investors with news, information, public company profiles, and developing trends in the homebuilder sector. The site does not make stock recommendations but offers a unique free information portal for investors to research news, articles, and recent research. The current list of public companies in the sector includes: Beazer Homes USA, Inc., Brookfield Homes, Centex, Inc., Home Depot, Homestore, Inc., KB Home, Lennar Corporation, Lowe?s, Monterey Homes, Orleans Homebuilders, Inc., Pulte Homes and numerous others.
Feature Analyst Interview: Scott Usechek
Question: Now that a lot of the homebuilder stocks are at or near 52- week highs, some at even all time highs, what is your outlook on the sector 6-18 months out? Answer: While I believe that homebuilder stocks are currently at attractive levels, a potential buying opportunity awaits patient investors. I argue that stronger and more efficient business models will enable builders to continue to grow earnings at record levels, in the face of modestly higher mortgage rates. However, the recent backup in stocks reflects investor concerns regarding the impact of higher mortgage rates. I believe that investors will continue to punish homebuilders as rates rise, until they have the opportunity to evaluate performance in a rising interest rate environment. Question: Is there any grouping within the sector that will do better than another - (e.g: luxury homes)?
Answer: If investors are looking to put money to work in the sector, I believe companies focused on the high-end of the market will be the most insulated. Toll Brothers and Standard Pacific are a couple of names.
Question: What are some of your favorite companies based on the criteria that you use to analyze companies?
Answer: Ryland is exposed to the entry-level consumer, however, it has a strong organic growth profile that I appreciate. Furthermore, their management team is sound and they have a conservative land policy. Pulte is another name I like long-term. The country?s demographics will drive sustainable growth in the active-adult segment, in which Putle is the strongest positioned name. Analyst Bio: Most recently, Scott Usechek covered the homebuilder sector for Banc One Capital Markets. Scott supports coverage of the homebuilding, insurance, retailing and telecommunication sectors. Prior to joining BOCM, Scott completed the Bank One Corporate Finance Program. Scott graduated from Northern Illinois University?s College of Finance in 2000. He was awarded the right to use the Chartered Financial Analyst designation in 2003.
Featured Company: International Barrier Technology Inc. (?Barrier?) (IBTGF: OTCBB; IBH: TSXV) develops, manufactures, and markets proprietary fire resistant building materials. Its patented, non-combustible, non-toxic Pyrotite formulation has an extraordinary capability: it releases water when exposed to the heat of fire. Barrier?s award-winning Blazeguard? wood panels exceed International Building Code requirements in every targeted fire test and application, and uniquely combine properties that increase panel strength and minimize environmental and human impact. www.intlbarrier.com
Blazeguard customers include Centex, D.R. Horton, KB Home, and Lennar. Lowe?s Companies, Stock Building Supply, and Mule-Hide Products Co., Inc. are Blazeguard distributors. Pyrotite has potential applications with engineered wood products, paint, plastics, and expanded polystyrene.
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