PulteGroup (NYSE:PHM) Price Target Cut to $57.00

PulteGroup (NYSE:PHM – Get Rating) had its price target decreased by investment analysts at BTIG Research from $66.00 to $57.00 in a note issued to investors on Monday, The Fly reports. BTIG Research’s price objective indicates a potential upside of 26.50% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Citigroup decreased their target price on shares of PulteGroup from $62.00 to $55.00 in a research note on Friday, March 25th. Barclays cut shares of PulteGroup from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $72.00 to $49.00 in a research note on Thursday, March 31st. Credit Suisse Group initiated coverage on shares of PulteGroup in a research note on Tuesday, April 5th. They issued an “outperform” rating and a $52.00 target price for the company. Wedbush reduced their price objective on shares of PulteGroup from $68.00 to $57.00 in a research report on Monday, May 2nd. Finally, Royal Bank of Canada reduced their price objective on shares of PulteGroup from $63.00 to $56.00 in a research report on Friday, April 29th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, PulteGroup has an average rating of “Buy” and a consensus price target of $55.42.

PHM stock opened at $45.06 on Monday. The firm’s fifty day simple moving average is $42.94 and its 200-day simple moving average is $48.41. The company has a market capitalization of $10.71 billion, a P/E ratio of 5.52, a price-to-earnings-growth ratio of 0.69 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.68 and a quick ratio of 0.68. PulteGroup has a 12 month low of $39.61 and a 12 month high of $58.09.

PulteGroup (NYSE:PHM – Get Rating) last posted its earnings results on Thursday, April 28th. The construction company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. PulteGroup had a net margin of 14.58% and a return on equity of 27.91%. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the previous year, the business posted $1.28 EPS. The business’s revenue was up 16.8% compared to the same quarter last year. As a group, sell-side analysts forecast that PulteGroup will post 10.72 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Sugarloaf Wealth Management LLC raised its holdings in PulteGroup by 303.2% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 504 shares of the construction company’s stock valued at $29,000 after acquiring an additional 379 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in PulteGroup during the fourth quarter worth approximately $30,000. Catalyst Capital Advisors LLC acquired a new stake in PulteGroup during the fourth quarter worth approximately $37,000. First Command Bank raised its holdings in PulteGroup by 125.0% during the first quarter. First Command Bank now owns 900 shares of the construction company’s stock worth $38,000 after purchasing an additional 500 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in PulteGroup during the fourth quarter worth approximately $39,000. 90.32% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Company Profile (Get Rating)

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, American West, and John Wieland Homes and Neighborhoods brand names.

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