PulteGroup (PHM) Upgraded at BTIG Research

PulteGroup (NYSE:PHM) was upgraded by equities research analysts at BTIG Research from a “sell” rating to a “neutral” rating in a report released on Wednesday, April 24th, MarketBeat reports. The brokerage currently has a $31.35 price objective on the construction company’s stock. BTIG Research’s price objective indicates a potential downside of 3.48% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded PulteGroup from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. Buckingham Research boosted their price target on PulteGroup from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. raised PulteGroup from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $24.00 to $25.50 in a report on Wednesday, April 10th. Barclays set a $28.00 price objective on PulteGroup and gave the company a “hold” rating in a research report on Thursday, March 28th. Finally, ValuEngine upgraded PulteGroup from a “sell” rating to a “hold” rating in a research report on Saturday, February 23rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. PulteGroup presently has an average rating of “Hold” and a consensus target price of $28.53.

PHM traded up $0.15 on Wednesday, hitting $32.48. The company had a trading volume of 3,858,100 shares, compared to its average volume of 4,600,878. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $8.94 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 1.39 and a beta of 0.84. PulteGroup has a 12-month low of $20.64 and a 12-month high of $33.04.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, April 23rd. The construction company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.12. PulteGroup had a return on equity of 21.65% and a net margin of 9.97%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that PulteGroup will post 3.4 EPS for the current year.

In other news, SVP James L. Ossowski sold 10,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $31.19, for a total value of $311,900.00. Following the transaction, the senior vice president now owns 25,750 shares of the company’s stock, valued at approximately $803,142.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ryan Marshall sold 15,000 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $27.81, for a total value of $417,150.00. Following the completion of the transaction, the insider now directly owns 453,996 shares in the company, valued at approximately $12,625,628.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 162,846 shares of company stock valued at $5,064,382. 0.49% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Burt Wealth Advisors acquired a new position in PulteGroup during the 4th quarter worth about $26,000. CSat Investment Advisory L.P. lifted its stake in PulteGroup by 34.2% during the 4th quarter. CSat Investment Advisory L.P. now owns 1,469 shares of the construction company’s stock worth $38,000 after acquiring an additional 374 shares in the last quarter. Ameritas Investment Corp acquired a new position in PulteGroup during the 1st quarter worth about $42,000. Rockefeller Capital Management L.P. acquired a new position in PulteGroup during the 1st quarter worth about $43,000. Finally, Kwmg LLC acquired a new position in PulteGroup during the 1st quarter worth about $45,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.

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Analyst Recommendations for PulteGroup (NYSE:PHM)

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