Dream Finders Homes climbs ahead of S&P SmallCap 600 addition
** Shares of Dream Finders Homes DFH.N up 8.6% premarket to $30.32 as co set to join S&P SmallCap 600 index .SPCY next week
** S&P Dow Jones Indices said home builder to replace Haynes International Inc HAYN.O in SPCY before market open on Mon, Nov 25
** Alloy producer HAYN being acquired by Spain's Acerinox ACX.MC, and will become wholly owned by steelmaker's North American Stainless (NAS) business
** DFS has ~93.5 mln shares outstanding for $2.6 bln market cap, per LSEG data
** On Oct 31, co reported total Q3 rev of $1.01 bln vs $895.8 mln a yr-ago, including 10% growth in homebuilding rev, and maintained FY guidance of 8,250 home closings
** All 3 analysts covering DFH rate stock "hold" with $31 median PT - LSEG
** Through Weds close, stock has fallen 23% since end-Sept. Stock hit record intraday high of $44.38 on Mar 28 this year
** Co debuted in Jan 2021 after IPO priced at $13
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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