PulteGroup’s (PHM) Equal Weight Rating Reiterated at Barclays

PulteGroup (NYSE:PHM)‘s stock had its “equal weight” rating restated by research analysts at Barclays in a note issued to investors on Wednesday,Benzinga reports. They currently have a $140.00 price target on the construction company’s stock, down from their previous price target of $150.00. Barclays‘s price objective would indicate a potential upside of 11.67% from the company’s previous close.

Other analysts have also recently issued research reports about the company. UBS Group increased their price objective on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Oppenheimer cut their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a report on Tuesday, October 22nd. Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Finally, Bank of America upped their price target on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $144.29.

PulteGroup Price Performance

PHM opened at $125.37 on Wednesday. The firm has a 50-day moving average of $134.76 and a 200 day moving average of $127.11. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. PulteGroup has a fifty-two week low of $95.36 and a fifty-two week high of $149.47. The firm has a market cap of $25.71 billion, a P/E ratio of 9.25, a PEG ratio of 0.52 and a beta of 1.62.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.25. The firm had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $2.90 earnings per share. On average, research analysts expect that PulteGroup will post 12.94 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PHM. WR Wealth Planners LLC increased its stake in shares of PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after buying an additional 82 shares during the period. Fortitude Family Office LLC increased its position in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after acquiring an additional 99 shares during the period. Transcendent Capital Group LLC bought a new position in shares of PulteGroup during the third quarter valued at about $29,000. Rothschild Investment LLC purchased a new stake in shares of PulteGroup during the second quarter worth about $31,000. Finally, Candriam S.C.A. bought a new stake in shares of PulteGroup in the second quarter worth about $33,000. 89.90% of the stock is owned by institutional investors.

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.