Equities researchers at Sterne Agee began coverage on shares of PulteGroup (NYSE: PHM) in a report issued on Friday. The firm set a “buy” rating and a $24.00 price target on the stock.

Shares of PulteGroup (NYSE: PHM) opened at 20.75 on Friday. PulteGroup has a 52 week low of $7.63 and a 52 week high of $21.97. The stock’s 50-day moving average is currently $19.93. The company has a market cap of $8.022 billion and a P/E ratio of 38.43.

PulteGroup (NYSE: PHM) last announced its earnings results on Thursday, January 31st. The company reported $0.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.31 by $0.03. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company posted $0.11 earnings per share. PulteGroup’s revenue was up 24.2% compared to the same quarter last year. On average, analysts predict that PulteGroup will post $1.22 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on PHM. Analysts at Zacks reiterated a “neutral” rating on shares of PulteGroup in a research note to investors on Tuesday, March 12th. They now have a $21.00 price target on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of PulteGroup in a research note to investors on Monday, March 11th. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of PulteGroup in a research note to investors on Friday, March 8th. They now have a $26.00 price target on the stock.

Eight analysts have rated the stock with a buy rating, one has given an overweight rating, eight have given a hold rating, one has assigned an underweight rating, and one has given a sell rating to the company. The company currently has a consensus rating of “overweight” and a consensus target price of $21.22.

PulteGroup, Inc. (PulteGroup) is a homebuilder in the United States. The Company’s subsidiaries engage primarily in the homebuilding business.

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