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Del Webb exploded out of a base in August, and scored a 115% gain through February. The stock settled into a base, which by Friday's end was seven weeks long. Several weeks ago, it found support at its 200-day moving average, a good sign. It's now 7% off its high.
The Phoenix-based firm builds housing communities for active adults aged 55 or older. Its community locales include Phoenix; Tucson, Ariz.; Las Vegas; Hilton Head, S.C.; and Ocala, Fla.
On March 20, Del Webb announced an alliance with Lakewood Homes to engage injoint ventures that will boost shareholder value. The two will develop a "Grand Haven" adult resort community in Romeoville, in the Chicago area. It will include 258 town homes and 419 single-family units.
Del Webb's profit has grown by 16% to ...