Brokerages Set PulteGroup, Inc. (NYSE:PHM) Target Price at $24.91
Shares of PulteGroup, Inc. (NYSE:PHM) have been given a consensus recommendation of “Hold” by the sixteen analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $24.91.
A number of equities research analysts recently commented on the company. Bank of America Corporation reissued a “buy” rating and issued a $30.00 price target (up from $29.00) on shares of PulteGroup in a research report on Tuesday, June 27th. Credit Suisse Group assumed coverage on PulteGroup in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $27.00 price target for the company. BidaskClub raised PulteGroup from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. Wedbush raised PulteGroup from an “underperform” rating to a “neutral” rating and increased their price target for the company from $15.00 to $22.00 in a research report on Thursday, July 13th. Finally, Barclays PLC lowered PulteGroup from an “overweight” rating to an “equal weight” rating and set a $24.00 price target for the company. in a research report on Tuesday, July 11th. They noted that the move was a valuation call.
PulteGroup (NYSE:PHM) traded up 0.28% during mid-day trading on Friday, hitting $25.38. 1,583,265 shares of the stock were exchanged. PulteGroup has a 1-year low of $17.69 and a 1-year high of $25.72. The stock has a 50 day moving average price of $24.47 and a 200 day moving average price of $23.05. The company has a market capitalization of $7.66 billion, a PE ratio of 14.05 and a beta of 1.14. PulteGroup also saw unusually large options trading on Tuesday. Stock investors acquired 29,638 put options on the company. This is an increase of 1,131% compared to the average volume of 2,408 put options.
PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, July 25th. The construction company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm earned $0.37 earnings per share. PulteGroup’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that PulteGroup will post $2.09 earnings per share for the current fiscal year.
In other news, Director Brian P. Anderson sold 14,000 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total transaction of $324,520.00. Following the completion of the sale, the director now directly owns 108,744 shares of the company’s stock, valued at approximately $2,520,685.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.71% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Hartwell J M Limited Partnership acquired a new stake in shares of PulteGroup during the first quarter valued at about $516,000. Americafirst Capital Management LLC acquired a new stake in shares of PulteGroup during the first quarter valued at about $360,000. Capstone Asset Management Co. raised its stake in shares of PulteGroup by 13.6% in the first quarter. Capstone Asset Management Co. now owns 43,920 shares of the construction company’s stock valued at $1,034,000 after buying an additional 5,250 shares in the last quarter. Regentatlantic Capital LLC raised its stake in shares of PulteGroup by 20.7% in the first quarter. Regentatlantic Capital LLC now owns 48,772 shares of the construction company’s stock valued at $1,149,000 after buying an additional 8,355 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of PulteGroup by 8.7% in the first quarter. Bank of Montreal Can now owns 292,090 shares of the construction company’s stock valued at $6,878,000 after buying an additional 23,403 shares in the last quarter. 92.52% of the stock is owned by hedge funds and other institutional investors.
PulteGroup Company Profile
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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