CalAtlantic Group Inc. (NYSE:CAA) shares were down 8.7% during mid-day trading on Friday . The company traded as low as $35.83 and last traded at $36.29, with a volume of 3,792,424 shares. The stock had previously closed at $39.73.

A number of research analysts have recently issued reports on CAA shares. Barclays PLC boosted their price target on shares of CalAtlantic Group from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, April 7th. Zacks Investment Research upgraded shares of CalAtlantic Group from a “sell” rating to a “hold” rating in a research note on Friday, April 8th. FBR & Co boosted their price target on shares of CalAtlantic Group from $32.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, May 9th. MKM Partners boosted their price target on shares of CalAtlantic Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, May 9th. Finally, Raymond James Financial Inc. upgraded shares of CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $39.00 price target on the stock in a research note on Friday, May 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $42.75.

The firm has a market cap of $4.29 billion and a P/E ratio of 14.46. The stock’s 50 day moving average is $37.93 and its 200 day moving average is $34.02.

CalAtlantic Group (NYSE:CAA) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.58. The business earned $1.56 billion during the quarter, compared to the consensus estimate of $126.24 million. The business’s quarterly revenue was up 124.4% on a year-over-year basis. On average, analysts expect that CalAtlantic Group Inc. will post $3.57 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. US Bancorp DE purchased a new stake in shares of CalAtlantic Group during the fourth quarter valued at $1,013,000. Liberty Mutual Group Asset Management Inc. purchased a new stake in shares of CalAtlantic Group during the fourth quarter valued at $1,864,000. Mutual of America Capital Management LLC purchased a new stake in shares of CalAtlantic Group during the fourth quarter valued at $1,904,000. GAM Holding AG purchased a new stake in shares of CalAtlantic Group during the fourth quarter valued at $1,963,000. Finally, Comerica Bank purchased a new stake in shares of CalAtlantic Group during the fourth quarter valued at $1,760,000.

CalAtlantic Group, Inc, formerly Standard Pacific Corp., is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.

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