Ryland Drops on Downgrade

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Shares in Ryland Group Inc. dropped 5 percent Thursday after shares in the homebuilder were downgraded to “strong sell” from “sell” by Matrix USA analyst Daniel Scalzi.


The downgrade comes day after Moody’s Investors Service announced Wednesday that it may cut its credit rating on the struggling homebuilder to a junk rating due to concerns about the home builder’s ability to cut inventory and generate positive cash flow.

Shares in Ryland dropped $1.41 to $27.01 in afternoon trading Thursday on the New York Stock Exchange.

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