Zelman & Associates Stock Recommendations and Price Targets

This is a list of recent ratings by Zelman & Associates.

Date	Company Name	Action	Current Price	Price Target	Rating
8/7/2026	REAX Real REMAX Group	Upgrade	$16.00		Outperform
8/6/2026	CVCO Cavco Industries	Downgrade	$536.00		Outperform ➝ Neutral
8/6/2026	SKY Champion Homes	Upgrade	$80.00		Hold ➝ Outperform
8/6/2026	COMP Compass	Reiterated Rating	$10.00	$13.50	Outperform ➝ Hold
7/17/2026	FERG Ferguson	Upgrade	$229.00	$285.00	Hold ➝ Outperform
7/7/2026	NVR NVR	Upgrade	$5,941.00		Hold ➝ Buy
7/7/2026	DHI D.R. Horton	Upgrade	$139.00		Neutral ➝ Outperform
7/7/2026	MHO M/I Homes	Downgrade	$126.00		Outperform ➝ Neutral
7/7/2026	MTH Meritage Homes	Downgrade	$60.00		Outperform ➝ Neutral
7/7/2026	CCS Century Communities	Downgrade	$56.00		Neutral ➝ Underperform
6/23/2026	SGI Somnigroup International	Initiated Coverage	$65.00	$99.00	Outperform
5/18/2026	TREX Trex	Upgrade	$46.00	$50.00	Neutral ➝ Outperform
4/17/2026	FND Floor & Decor	Lower Price Target	$46.00	$80.00 ➝ $65.00	Neutral ➝ Neutral
4/6/2026	SDHC Smith Douglas Homes	Initiated Coverage	$10.00	$13.50	Neutral
3/20/2026	AGNT Exp World	Initiated Coverage	$4.00	$4.75	Underperform
3/16/2026	SUI Sun Communities	Initiated Coverage	$116.00	$127.75	Outperform
3/16/2026	ELS Equity Lifestyle Properties	Initiated Coverage	$60.00	$59.25	Underperform
3/5/2026	REAX Real REMAX Group	Reiterated Rating	$16.00		Outperform ➝ Neutral
2/13/2026	FBIN Fortune Brands Innovations	Downgrade	$40.00		Outperform ➝ Neutral
2/12/2026	Z Zillow Group	Upgrade	$31.00		Hold ➝ Strong-Buy
2/11/2026	MAS Masco	Downgrade	$73.00		Hold
2/5/2026	CVCO Cavco Industries	Upgrade	$536.00		Outperform
2/5/2026	SKY Champion Homes	Downgrade	$80.00		Outperform ➝ Hold
1/29/2026	RH RH	Reiterated Rating	$118.00		Outperform ➝ Outperform
1/29/2026	NVR NVR	Upgrade	$5,941.00	$7,675.00	Sell ➝ Hold
1/29/2026	WSM Williams-Sonoma	Upgrade	$252.00	$205.00	Underperform ➝ Neutral
11/12/2025	DFH Dream Finders Homes	Upgrade	$8.00		Hold ➝ Outperform
11/7/2025	SKY Champion Homes	Upgrade	$80.00		Neutral ➝ Outperform
11/5/2025	TREX Trex	Downgrade	$46.00		Outperform ➝ Neutral
10/17/2025	TREX Trex	Lower Price Target	$46.00	$74.00 ➝ $66.00	Outperform ➝ Outperform
8/12/2025	MHO M/I Homes	Upgrade	$126.00		Neutral ➝ Outperform
8/8/2025	IBP Installed Building Products	Upgrade	$188.00		Underperform ➝ Neutral
8/8/2025	ZG Zillow Group	Upgrade	$32.00		Hold
8/5/2025	W Wayfair	Boost Price Target	$112.00	$85.00 ➝ $96.00	Outperform ➝ Outperform
8/1/2025	DFH Dream Finders Homes	Downgrade	$8.00		Strong-Buy ➝ Hold
7/29/2025	TLRY Tilray Brands	Reiterated Rating	$3.00		Neutral ➝ Neutral
7/24/2025	MTH Meritage Homes	Upgrade	$60.00		Strong-Buy
7/18/2025	BLDR Builders FirstSource	Reiterated Rating	$54.00		Neutral ➝ Underperform
7/9/2025	RH RH	Lower Price Target	$118.00	$305.00 ➝ $251.00	Outperform ➝ Outperform
7/9/2025	W Wayfair	Boost Price Target	$112.00	$55.00 ➝ $72.00	Outperform ➝ Outperform
6/18/2025	LEN Lennar	Downgrade	$78.00		Strong-Buy ➝ Hold
6/9/2025	VFF Village Farms International	Reiterated Rating	$3.00		Overweight ➝ Overweight
6/5/2025	SKY Champion Homes	Upgrade	$80.00		Strong Sell ➝ Hold
5/15/2025	WSM Williams-Sonoma	Initiated Coverage	$252.00		Underperform
5/15/2025	W Wayfair	Initiated Coverage	$112.00		Outperform
4/14/2025	CSL Carlisle Companies	Upgrade	$335.00		Underperform ➝ Neutral
4/14/2025	MBC MasterBrand	Reiterated Rating	$7.00		Neutral ➝ Underperform
2/13/2025	UDR United Dominion Realty Trust	Reiterated Rating	$34.00		Outperform ➝ Neutral
2/12/2025	HOV Hovnanian Enterprises	Reiterated Rating	$102.00		Neutral ➝ Underperform
1/31/2025	CCS Century Communities	Upgrade	$56.00		Hold
1/27/2025	FPH Five Point	Upgrade	$4.00		Neutral ➝ Outperform
1/17/2025	SHW Sherwin-Williams	Upgrade	$337.00		Strong-Buy
1/17/2025	FERG Ferguson	Downgrade	$229.00		Strong-Buy ➝ Hold
1/17/2025	MAS Masco	Upgrade	$73.00		Strong-Buy
9/23/2024	LEN Lennar	Upgrade	$78.00		Neutral ➝ Outperform
9/17/2024	BZH Beazer Homes USA	Reiterated Rating	$33.00		Neutral ➝ Underperform
8/5/2024	BZH Beazer Homes USA	Downgrade	$33.00		Strong-Buy ➝ Hold
6/17/2024	BLDR Builders FirstSource	Reiterated Rating	$54.00		Buy ➝ Hold
5/23/2024	HOV Hovnanian Enterprises	Upgrade	$102.00	$155.00	Underperform ➝ Neutral
5/13/2024	KBH KB Home	Reiterated Rating	$44.00	$69.00	Neutral ➝ Underperform
5/13/2024	DFH Dream Finders Homes	Upgrade	$8.00	$34.50	Neutral ➝ Outperform
4/24/2024	PHM PulteGroup	Upgrade	$113.00		Neutral ➝ Outperform
4/12/2024	HOV Hovnanian Enterprises	Reiterated Rating	$102.00		Neutral ➝ Underperform
4/2/2024	HD Home Depot	Upgrade	$308.00		Neutral ➝ Outperform
4/2/2024	LOW Lowe's Companies	Reiterated Rating	$196.00	$265.00	Outperform ➝ Neutral
2/26/2024	MTH Meritage Homes	Upgrade	$60.00		Neutral ➝ Outperform