Wall Street Zen Downgrades PulteGroup (NYSE:PHM) to Sell

PulteGroup (NYSE:PHM) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other research analysts also recently issued reports on the stock. Evercore ISI decreased their price target on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a research note on Wednesday, October 22nd. Bank of America decreased their price objective on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 10th. JPMorgan Chase & Co. boosted their target price on shares of PulteGroup from $136.00 to $149.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. BTIG Research started coverage on shares of PulteGroup in a research note on Monday, December 1st. They issued a “neutral” rating for the company. Finally, Citigroup lifted their target price on PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $137.25.

PulteGroup Trading Up 1.5%

NYSE:PHM opened at $119.02 on Friday. PulteGroup has a 12-month low of $88.07 and a 12-month high of $142.11. The firm has a market cap of $23.20 billion, a PE ratio of 9.16, a price-to-earnings-growth ratio of 0.96 and a beta of 1.33. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average price of $121.28 and a 200 day moving average price of $122.21.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the company earned $3.35 EPS. PulteGroup’s revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts anticipate that PulteGroup will post 12.32 earnings per share for the current fiscal year.

Institutional Trading of PulteGroup

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC purchased a new position in shares of PulteGroup in the second quarter worth approximately $32,000. Rexford Capital Inc. bought a new position in PulteGroup in the second quarter worth approximately $35,000. Private Wealth Management Group LLC boosted its stake in shares of PulteGroup by 281.7% during the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after acquiring an additional 200 shares during the last quarter. Hager Investment Management Services LLC grew its position in shares of PulteGroup by 33.3% during the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock valued at $44,000 after acquiring an additional 105 shares during the period. Finally, True Wealth Design LLC grew its position in shares of PulteGroup by 229.6% during the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock valued at $47,000 after acquiring an additional 248 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.