PulteGroup (NYSE:PHM) Price Target Cut to $124.00 by Analysts at The Goldman Sachs Group

PulteGroup (NYSE:PHM) had its price target reduced by research analysts at The Goldman Sachs Group from $140.00 to $124.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 10.80% from the company’s previous close.

A number of other equities research analysts also recently weighed in on PHM. Wedbush raised shares of PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price target for the company in a report on Friday, January 3rd. Barclays reiterated an “equal weight” rating and issued a $140.00 target price (down from $150.00) on shares of PulteGroup in a report on Wednesday, December 11th. UBS Group raised shares of PulteGroup from a “neutral” rating to a “buy” rating and cut their target price for the company from $154.00 to $148.00 in a research note on Wednesday, January 8th. Oppenheimer dropped their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $145.21.

PulteGroup Stock Up 2.7 %

PulteGroup stock opened at $111.91 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The company has a 50-day simple moving average of $121.62 and a 200-day simple moving average of $126.91. The firm has a market capitalization of $22.95 billion, a P/E ratio of 8.25, a P/E/G ratio of 0.48 and a beta of 1.67. PulteGroup has a one year low of $100.24 and a one year high of $149.47.

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

Institutional Trading of PulteGroup

Several large investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its position in PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after buying an additional 99 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in PulteGroup during the 3rd quarter worth $29,000. JNBA Financial Advisors bought a new position in PulteGroup in the 3rd quarter valued at $43,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of PulteGroup by 1,059.3% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after acquiring an additional 286 shares during the last quarter. Finally, Grove Bank & Trust boosted its holdings in PulteGroup by 18.4% in the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after acquiring an additional 72 shares during the last quarter. 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.