CalAtlantic Group Inc. (CAA) Shares Up 3.1%
Shares of CalAtlantic Group Inc. (NYSE:CAA) shot up 3.1% during mid-day trading on Tuesday . The company traded as high as $37.61 and last traded at $37.09, with a volume of 889,115 shares changing hands. The stock had previously closed at $35.97.
CAA has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of CalAtlantic Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. RBC Capital Markets restated an “outperform” rating and issued a $43.00 price target (down previously from $48.00) on shares of CalAtlantic Group in a research note on Monday, August 1st. JPMorgan Chase & Co. restated a “buy” rating on shares of CalAtlantic Group in a research note on Friday, June 10th. 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 for the company in a research note on Friday, May 13th. Finally, JMP Securities restated a “hold” rating on shares of CalAtlantic Group in a research note on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $42.58.
The stock has a market capitalization of $4.35 billion and a P/E ratio of 14.55. The stock’s 50-day moving average is $37.76 and its 200 day moving average is $34.65.
CalAtlantic Group (NYSE:CAA) last announced its earnings results on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.58. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $126.24 million. The firm’s quarterly revenue was up 124.4% compared to the same quarter last year. On average, analysts expect that CalAtlantic Group Inc. will post $3.49 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.04 per share. The ex-dividend date is Tuesday, September 13th. This represents a $0.16 dividend on an annualized basis and a yield of 0.44%.
A number of large investors recently made changes to their positions in CAA. Jennison Associates LLC bought a new stake in shares of CalAtlantic Group during the fourth quarter worth about $59,225,000. New York State Common Retirement Fund acquired a new position in shares of CalAtlantic Group during the fourth quarter worth approximately $3,379,000. Finally, US Bancorp DE acquired a new position in shares of CalAtlantic Group during the fourth quarter worth approximately $1,013,000.
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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