Homex Development Rises On Unusually High Volume (HXM)

NEW YORK ( TheStreet) -- Homex Development Corp (NYSE: HXM) is trading at unusually high volume Wednesday with 949,085 shares changing hands. It is currently at 4.1 times its average daily volume and trading up 76 cents (+3.2%) at $24.82 as of 3:46 p.m. ET.

Homex Development has a market cap of $1.3 billion and is part of the financial sector and real estate industry. Shares are down 28.8% year to date as of the close of trading on Tuesday.

Desarrolladora Homex, S.A.B. de C.V. operates as a vertically integrated home development company principally engaged in the development, construction, and sale of affordable entry-level, middle-income, and tourism housing in Mexico; and affordable entry-level housing in Brazil. The company has a P/E ratio of 10.2, above the average real estate industry P/E ratio of 10.1 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Homex Development as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including generally poor debt management, disappointing return on equity and poor profit margins. You can view the full Homex Development Ratings Report.

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