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	Impact on Share Price
8/18/2023	AMWD American Woodmark	Upgrade	$74.00		Hold ➝ Buy	Low
8/18/2023	SWK Stanley Black & Decker	Upgrade	$83.00		Hold ➝ Buy	Low
8/18/2023	CSL Carlisle Companies	Downgrade	$255.00		Hold ➝ Sell	Low
7/31/2023	BZH Beazer Homes USA	Upgrade	$25.00		Hold ➝ Buy	Low
5/25/2023	TOL Toll Brothers	Upgrade	$73.00		Hold ➝ Buy	Low
5/8/2023	BLDR Builders FirstSource	Upgrade	$123.00		Hold ➝ Buy	Low
4/27/2023	ZG Zillow Group	Upgrade	$45.00		Hold ➝ Buy	Low
3/10/2023	BECN Beacon Roofing Supply	Downgrade	$78.00		Hold ➝ Sell	Low
3/3/2023	COMP Compass	Upgrade	$3.00		Hold ➝ Buy	Low
2/7/2023	BECN Beacon Roofing Supply	Initiated Coverage	$78.00		Hold	Low
1/27/2023	SHW Sherwin-Williams	Downgrade	$251.00		Buy ➝ Hold	Low
12/21/2022	BLDR Builders FirstSource	Downgrade	$123.00		Buy ➝ Hold	Low
12/21/2022	AWI Armstrong World Industries	Downgrade	$71.00		Buy ➝ Hold	Low
12/16/2022	MBC MasterBrand	Initiated Coverage	$12.00		Buy	Low
12/16/2022	FBIN Fortune Brands Innovations	Initiated Coverage	$62.00		Hold	Low
12/1/2022	FERG Ferguson	Initiated Coverage	$163.00		Buy	Low
8/5/2022	IBP Installed Building Products	Downgrade	$122.00		Buy ➝ Hold	Low
8/5/2022	BLD TopBuild	Downgrade	$248.00		Buy ➝ Hold	Low
7/18/2022	OPEN Opendoor Technologies	Downgrade	$3.00		Buy ➝ Hold	N/A
5/11/2022	AZEK AZEK	Upgrade	$29.00		Hold ➝ Buy	High
4/22/2022	COMP Compass	Initiated Coverage	$3.00		Hold	High
3/14/2022	AZEK AZEK	Initiated Coverage	$29.00		Hold	Medium
3/14/2022	TREX Trex	Initiated Coverage	$61.00		Hold	Medium
12/23/2021	IBP Installed Building Products	Upgrade	$122.00		Hold ➝ Buy	Medium
12/23/2021	BLD TopBuild	Upgrade	$248.00		Hold ➝ Buy	Medium
12/13/2021	KBH KB Home	Upgrade	$46.00		Hold ➝ Buy	High
12/13/2021	MTH Meritage Homes	Upgrade	$122.00		Hold ➝ Buy	Medium
11/15/2021	CSL Carlisle Companies	Initiated Coverage	$255.00		Buy	Medium
11/11/2021	BZH Beazer Homes USA	Upgrade	$25.00		Sell ➝ Hold	High
11/5/2021	BLDR Builders FirstSource	Upgrade	$123.00		Sell ➝ Buy	Medium
9/15/2021	DFH Dream Finders Homes	Upgrade	$22.00		Sell ➝ Hold	Low
9/7/2021	OPEN Opendoor Technologies	Initiated Coverage	$3.00		Buy	N/A
8/9/2021	ZG Zillow Group	Upgrade	$45.00		Hold ➝ Buy	Low
7/29/2021	CCS Century Communities	Upgrade	$66.00		Sell ➝ Hold	High
7/23/2021	TPH Tri Pointe Homes	Upgrade	$27.00		Sell ➝ Hold	High
7/8/2021	BLDR Builders FirstSource	Initiated Coverage	$123.00		Sell	Low
6/24/2021	INVH Invitation Homes	Downgrade	$32.00		Buy ➝ Hold	Low
6/24/2021	AWI Armstrong World Industries	Upgrade	$71.00		Hold ➝ Buy	Low
5/17/2021	AMH American Homes 4 Rent	Reiterated Rating	$34.00		Buy ➝ Hold	Medium
5/10/2021	AMH American Homes 4 Rent	Downgrade	$34.00		Buy ➝ Hold	Low
4/21/2021	LOW Lowe's Companies	Reiterated Rating	$207.00		Buy ➝ Hold	N/A
4/15/2021	LOW Lowe's Companies	Downgrade	$207.00		Buy ➝ Hold	High
4/15/2021	HD Home Depot	Downgrade	$302.00		Buy ➝ Hold	Low
3/23/2021	AIRC Apartment Income REIT	Upgrade	$30.00		Sell ➝ Hold	Low
3/23/2021	EQR Equity Residential	Upgrade	$58.00		Sell ➝ Hold	Low
3/23/2021	AVB AvalonBay Communities	Upgrade	$172.00		Sell ➝ Hold	Low
3/3/2021	RKT Rocket Companies	Downgrade	$8.00		Buy ➝ Hold	N/A
2/24/2021	AWI Armstrong World Industries	Upgrade	$71.00		Sell ➝ Hold	Low
2/12/2021	LOW Lowe's Companies	Upgrade	$207.00		Hold ➝ Buy	Low
2/12/2021	HD Home Depot	Upgrade	$302.00		Hold ➝ Buy	Low
12/17/2020	AIRC Apartment Income REIT	Initiated Coverage	$30.00		Sell	Low
12/7/2020	AIV Apartment Investment and Management	Upgrade	$7.00		Sell ➝ Hold	Low
10/26/2020	TPH Tri Pointe Homes	Downgrade	$27.00		Buy ➝ Hold	Low
10/26/2020	TMHC Taylor Morrison Home	Downgrade	$42.00		Buy ➝ Hold	High
10/26/2020	KBH KB Home	Downgrade	$46.00		Buy ➝ Hold	High
10/26/2020	CCS Century Communities	Downgrade	$66.00		Buy ➝ Hold	Low
10/26/2020	TOL Toll Brothers	Downgrade	$73.00		Buy ➝ Hold	High
10/26/2020	MDC M.D.C.	Downgrade	$41.00		Buy ➝ Hold	Medium
10/26/2020	LEN Lennar	Downgrade	$112.00		Buy ➝ Hold	Medium
10/21/2020	NVR NVR	Upgrade	$5,941.00		Hold ➝ Buy	High
10/13/2020	PHM PulteGroup	Downgrade	$73.00		Buy ➝ Hold	Low
10/13/2020	MTH Meritage Homes	Downgrade	$122.00		Buy ➝ Hold	High