AVHI AV Homes

Just ran into this little home builder this morning. So far I’ve just ran thru the various Yahoo! pages and read the last CC transcript.
Pre 2015 they had a mess of losses so they have about $115M in tax loss carry-forwards which isn’t included in the book value. Book is about $1 higher than the share price is right now, so you could add…what 30% of that tax protection in. They’re building in Florida, Arizona & the Carolinas, currently they are doing 25% in Active Adult -retirement- communities and they want to move that to 40% in their mix.

Took a wee nibble and will scout it out, also I have an Active Adult home southwest of their headquarters in Scottsdale AZ, maybe I’ll go over and kick their tires next winter.

http://finance.yahoo.com/q/ks?s=AVHI+Key+Statistics

CC
http://finance.yahoo.com/news/edited-transcript-avhi-earning…

Profile
AV Homes, Inc. engages in the homebuilding and community development businesses in Florida, Arizona, and the Carolinas markets. The company operates through three segments: Florida, Arizona, and the Carolinas. It is involved in the acquisition, development, and building of active adult communities, which are age-restricted to the age 55 and over active adult demographic; and primary residential home communities under local Bonterra Builders and Royal Oak Homes brands for first-time and move-up buyers. The company also engages in the construction and sale of residences within the communities. In addition, it is involved in other real estate activities, such as the operation of amenities; and the sale of commercial, industrial, or other land for third-party development. As of December 31, 2015, it owned 5,014 developed residential lots; 3,139 partially developed residential lots; 8,652 undeveloped residential lots; and 14,449 acres of mixed-use, commercial, and industrial land. The company was formerly known as Avatar Holdings Inc. and changed its name to AV Homes, Inc. in February 2012. AV Homes, Inc. was founded in 1970 and is headquartered in Scottsdale, Arizona.

JT

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Ranked #13 in its group. Very weak (relative) growth ratings.
ChecklistRating
Composite Rating 74 Fail
EPS Rating 79 Fail
RS Rating 52 Fail
Group RS Rating B+ Pass
SMR Rating C Neutral
Acc/Dis Rating C+ Pass

Compare to LGIH
Rating
Composite Rating 97 Pass
EPS Rating 99 Pass
RS Rating 94 Pass
Group RS Rating C Neutral
SMR Rating A Pass
Acc/Dis Rating B Pass

The building suppliers are super strong and a good place to look. If the economy (housing) picks up, they will continue to grow

MAS, USCR, AOS, BECN, POOL, TTS, AYI, MLM, VMC, IBP

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