PulteGroup (NYSE:PHM) Price Target Raised to $160.00

PulteGroup (NYSE:PHM) had its price target lifted by research analysts at Bank of America from $138.00 to $160.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Bank of America‘s price target would suggest a potential upside of 12.79% from the stock’s previous close.

PHM has been the topic of a number of other reports. Barclays increased their price target on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Raymond James raised their price objective on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Citigroup lowered their target price on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Wedbush restated a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price target on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price of $134.71.

PulteGroup Stock Down 2.2 %

PHM stock opened at $141.86 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $128.95 and its 200 day moving average is $118.50. The stock has a market cap of $29.44 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 0.57 and a beta of 1.62. PulteGroup has a 1-year low of $68.80 and a 1-year high of $145.84.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter last year, the business posted $3.00 earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Sell-side analysts predict that PulteGroup will post 12.9 EPS for the current fiscal year.

Insider Activity at PulteGroup

In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the sale, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the transaction, the chief financial officer now owns 160,330 shares in the company, valued at $20,729,065.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the sale, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. The disclosure for this sale can be found here. Insiders have sold 119,000 shares of company stock worth $15,814,039 over the last 90 days. 0.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On PulteGroup

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Benjamin Edwards Inc. bought a new stake in shares of PulteGroup in the 1st quarter worth approximately $26,000. WR Wealth Planners LLC raised its stake in PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after buying an additional 82 shares during the last quarter. LRI Investments LLC bought a new stake in PulteGroup in the first quarter worth $28,000. Rothschild Investment LLC purchased a new stake in shares of PulteGroup in the second quarter worth $31,000. Finally, Candriam S.C.A. bought a new position in shares of PulteGroup during the second quarter valued at $33,000. Hedge funds and other institutional investors 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.