PulteGroup (NYSE:PHM) Price Target Increased to $74.00 by Analysts at JPMorgan Chase & Co.

PulteGroup (NYSE:PHM – Get Rating) had its target price upped by investment analysts at JPMorgan Chase & Co. from $65.00 to $74.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 24.47% from the stock’s current price.

PHM has been the subject of a number of other reports. Barclays upgraded PulteGroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $45.00 to $58.00 in a research report on Wednesday, December 14th. Raymond James lowered PulteGroup from a “strong-buy” rating to a “market perform” rating in a research report on Friday, October 21st. The Goldman Sachs Group boosted their target price on PulteGroup from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 12th. KeyCorp boosted their target price on PulteGroup from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, November 14th. Finally, StockNews.com upgraded PulteGroup from a “hold” rating to a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.23.

PulteGroup Stock Up 1.7 %

Shares of NYSE:PHM opened at $59.45 on Thursday. The company has a market capitalization of $13.54 billion, a PE ratio of 5.36, a P/E/G ratio of 0.50 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.26 and a current ratio of 0.62. The company’s fifty day moving average is $47.61 and its 200-day moving average is $43.38. PulteGroup has a 52 week low of $35.03 and a 52 week high of $59.45.

PulteGroup (NYSE:PHM – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The construction company reported $3.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.88 by $0.75. PulteGroup had a return on equity of 31.85% and a net margin of 16.13%. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $4.59 billion. During the same period last year, the firm posted $2.51 EPS. The business’s revenue was up 18.7% on a year-over-year basis. Equities research analysts predict that PulteGroup will post 7.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PulteGroup

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. increased its holdings in shares of PulteGroup by 9.5% in the first quarter. American Century Companies Inc. now owns 55,196 shares of the construction company’s stock valued at $2,313,000 after purchasing an additional 4,799 shares during the last quarter. Cetera Advisor Networks LLC acquired a new position in shares of PulteGroup in the first quarter valued at $221,000. PNC Financial Services Group Inc. increased its holdings in shares of PulteGroup by 1.7% in the first quarter. PNC Financial Services Group Inc. now owns 22,505 shares of the construction company’s stock valued at $945,000 after purchasing an additional 382 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of PulteGroup by 11.1% in the first quarter. Acadian Asset Management LLC now owns 4,487 shares of the construction company’s stock valued at $188,000 after purchasing an additional 449 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of PulteGroup by 26.7% in the first quarter. MetLife Investment Management LLC now owns 70,856 shares of the construction company’s stock valued at $2,969,000 after purchasing an additional 14,918 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

PulteGroup Company Profile

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PulteGroup, Inc engages in the homebuilding business. The firm is also involved in mortgage banking and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment includes operations from Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington.