PulteGroup (NYSE:PHM) Price Target Lowered to $131.00 at Barclays

PulteGroup (NYSE:PHM) had its target price lowered by Barclays from $136.00 to $131.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. Barclays‘s price objective indicates a potential upside of 11.91% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Zelman & Associates upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Raymond James reissued an “outperform” rating and issued a $135.00 price objective (up previously from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Citigroup cut their target price on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. StockNews.com raised PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group boosted their price objective on PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and an average price target of $111.86.

PulteGroup Trading Up 2.8 %

NYSE PHM traded up $3.22 during trading hours on Friday, hitting $117.06. 795,380 shares of the company were exchanged, compared to its average volume of 1,772,214. PulteGroup has a 52 week low of $68.80 and a 52 week high of $122.72. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $113.05 and a 200 day moving average price of $109.90. The stock has a market cap of $24.62 billion, a PE ratio of 9.37, a price-to-earnings-growth ratio of 0.48 and a beta of 1.61.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, April 23rd. The construction company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.51. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.59 billion. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. Analysts forecast that PulteGroup will post 12.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PulteGroup

Several institutional investors have recently bought and sold shares of the business. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of PulteGroup in the 1st quarter valued at about $26,000. Benjamin Edwards Inc. purchased a new stake in PulteGroup during the first quarter valued at approximately $26,000. LRI Investments LLC acquired a new stake in PulteGroup in the first quarter valued at approximately $28,000. Rakuten Securities Inc. purchased a new position in PulteGroup in the fourth quarter worth $37,000. Finally, Lindbrook Capital LLC increased its position in shares of PulteGroup by 335.6% during the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after purchasing an additional 292 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

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.