PulteGroup (NYSE:PHM) Rating Reiterated by Raymond James

PulteGroup (NYSE:PHM)‘s stock had its “outperform” rating restated by research analysts at Raymond James in a report issued on Thursday, Benzinga reports. They currently have a $135.00 price target on the construction company’s stock, up from their prior price target of $120.00. Raymond James’ price objective would suggest a potential upside of 18.69% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Wedbush restated a “neutral” rating and set a $85.00 price objective on shares of PulteGroup in a research report on Wednesday, January 31st. The Goldman Sachs Group raised their price objective on shares of PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. StockNews.com raised shares of PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup increased their target price on shares of PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Royal Bank of Canada increased their target price on shares of PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.73.

PulteGroup Stock Performance

NYSE PHM opened at $113.74 on Thursday. PulteGroup has a 1 year low of $64.70 and a 1 year high of $121.07. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.86. The stock has a market capitalization of $23.92 billion, a PE ratio of 9.11, a P/E/G ratio of 0.54 and a beta of 1.56. The company’s 50 day simple moving average is $111.28 and its two-hundred day simple moving average is $99.42.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.21 by $0.07. The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.47 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The business’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same period in the prior year, the company posted $3.63 EPS. Analysts predict that PulteGroup will post 11.96 earnings per share for the current fiscal year.

PulteGroup declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at PulteGroup

In related news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the sale, the vice president now owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PulteGroup

Several hedge funds have recently bought and sold shares of PHM. E Fund Management Hong Kong Co. Ltd. bought a new stake in PulteGroup during the first quarter worth about $26,000. Arlington Trust Co LLC bought a new position in shares of PulteGroup in the third quarter worth approximately $33,000. Baystate Wealth Management LLC lifted its stake in shares of PulteGroup by 186.5% in the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after buying an additional 319 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of PulteGroup in the third quarter worth approximately $36,000. Finally, Rakuten Securities Inc. bought a new position in shares of PulteGroup in the fourth quarter worth approximately $37,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.