PulteGroup (NYSE:PHM) Price Target Cut to $111.00 by Analysts at Royal Bank Of Canada

PulteGroup (NYSE:PHM) had its target price lowered by research analysts at Royal Bank Of Canada from $116.00 to $111.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “sector perform” rating on the construction company’s stock. Royal Bank Of Canada’s price objective points to a potential downside of 1.42% from the company’s current price.

Other research analysts have also recently issued reports about the stock. UBS Group reaffirmed a “buy” rating and set a $166.00 target price on shares of PulteGroup in a report on Thursday, July 23rd. Evercore reiterated an “outperform” rating on shares of PulteGroup in a research note on Friday, September 25th. Benchmark raised PulteGroup to a “strong-buy” rating in a research report on Thursday, September 3rd. Melius Research initiated coverage on PulteGroup in a research note on Tuesday, October 6th. They set a “hold” rating and a $132.00 price objective on the stock. Finally, Citigroup restated a “neutral” rating on shares of PulteGroup in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and an average price target of $138.67.

PulteGroup Stock Performance

Shares of PHM stock traded up $3.25 on Thursday, hitting $112.60. The company’s stock had a trading volume of 556,376 shares, compared to its average volume of 1,781,759. PulteGroup has a fifty-two week low of $107.15 and a fifty-two week high of $144.49. The company has a market capitalization of $21.11 billion, a PE ratio of 11.49, a PEG ratio of 1.54 and a beta of 1.16. The stock’s 50 day moving average is $122.00 and its 200-day moving average is $122.81. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 0.78.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.12. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.94 billion. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The business’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.03 EPS. Equities research analysts expect that PulteGroup will post 10.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of PulteGroup by 3.2% in the 2nd quarter. State Street Corp now owns 9,174,111 shares of the construction company’s stock valued at $1,261,092,000 after purchasing an additional 288,054 shares during the last quarter. First Trust Advisors LP lifted its position in shares of PulteGroup by 7.8% during the 1st quarter. First Trust Advisors LP now owns 4,314,501 shares of the construction company’s stock worth $507,428,000 after buying an additional 313,581 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of PulteGroup by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,146,857 shares of the construction company’s stock worth $370,008,000 after buying an additional 26,790 shares during the last quarter. Bank of America Corp DE boosted its stake in PulteGroup by 4.3% in the first quarter. Bank of America Corp DE now owns 1,963,175 shares of the construction company’s stock valued at $230,889,000 after buying an additional 80,352 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in PulteGroup in the second quarter valued at about $189,931,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Company Profile

PulteGroup, Inc is a homebuilding company headquartered in Atlanta, Georgia. Founded in 1950 by William J. Pulte, the company develops, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers.

The company operates through several well-known brands, including Pulte Homes, Centex, Del Webb and DiVosta. Its offerings include single-family homes and related residential developments, with designs and communities tailored to different lifestyles, price points and stages of homeownership.

PulteGroup serves homebuyers across numerous markets in the United States.