UPDATE: Williams Financial Group Initiates The Ryland Group at Buy

Williams Financial Group has published a research report on The Ryland Group (NYSE: RYL) and has initiated coverage on the company with a Buy rating and $23 price target.

In the report, Williams Financial Group writes, "Positive gross margin momentum as new communities are added in 2012. We expect margins to improve from 16% at the end of 2011 to 19% by the end of 2012. We expect land acquisitions will accelerate as we move through the year but only as required to keep pace with market conditions"

The Ryland Group is currently trading up $0.03 from yesterday's $19.12 closing price.