PulteGroup (NYSE:PHM) PT Raised to $143.00

PulteGroup (NYSE:PHM) had its target price hoisted by analysts at Oppenheimer from $138.00 to $143.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Oppenheimer’s target price indicates a potential upside of 28.41% from the stock’s previous close.

Several other research analysts have also commented on the stock. Citigroup raised their price target on shares of PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, April 5th. The Goldman Sachs Group raised their price target on shares of PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Raymond James raised their price target on shares of PulteGroup from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Wedbush reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of PulteGroup in a research report on Wednesday, January 31st. Finally, StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average target price of $111.73.

PulteGroup Trading Down 0.8 %

Shares of PHM stock opened at $111.36 on Wednesday. The firm has a market cap of $23.42 billion, a P/E ratio of 8.92, a PEG ratio of 0.54 and a beta of 1.56. PulteGroup has a 1-year low of $64.41 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 firm’s 50-day simple moving average is $111.04 and its 200-day simple moving average is $99.13.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.07. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same period in the prior year, the firm posted $3.63 EPS. The company’s revenue was down 15.5% on a year-over-year basis. As a group, equities analysts forecast that PulteGroup will post 11.96 EPS for the current year.

PulteGroup announced that its board has authorized a share repurchase program on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. 0.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PulteGroup

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

About PulteGroup

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.