PulteGroup (PHM) Stock Rating Lowered by B. Riley

PulteGroup (NYSE:PHM) was downgraded by stock analysts at B. Riley from a “buy” rating to a “neutral” rating in a report issued on Wednesday. They presently have a $36.00 price target on the construction company’s stock, up from their previous price target of $31.00. B. Riley’s target price suggests a potential upside of 6.41% from the company’s current price. B. Riley also issued estimates for PulteGroup’s FY2018 earnings at $3.03 EPS.

Other research analysts have also issued research reports about the stock. Bank of America set a $34.00 target price on shares of PulteGroup and gave the company a “buy” rating in a research note on Wednesday, October 25th. FBR & Co reaffirmed a “buy” rating and issued a $31.00 target price (up previously from $28.00) on shares of PulteGroup in a research note on Wednesday, October 25th. Zacks Investment Research raised shares of PulteGroup from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Tuesday, September 26th. Royal Bank of Canada reissued a “buy” rating and set a $28.00 price objective on shares of PulteGroup in a research note on Monday, September 25th. Finally, UBS Group initiated coverage on shares of PulteGroup in a research note on Wednesday, October 25th. They set a “buy” rating and a $38.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. PulteGroup has an average rating of “Hold” and an average price target of $31.38.

Shares of PulteGroup (PHM) traded down $0.44 during midday trading on Wednesday, hitting $33.83. 4,755,900 shares of the stock traded hands, compared to its average volume of 3,996,634. The company has a market cap of $10,074.27, a price-to-earnings ratio of 16.83, a PEG ratio of 0.72 and a beta of 1.22. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.72. PulteGroup has a one year low of $18.24 and a one year high of $34.60.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 24th. The construction company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.01. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.30 billion. PulteGroup had a net margin of 7.77% and a return on equity of 14.38%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 EPS. equities research analysts expect that PulteGroup will post 2.2 EPS for the current year.

In other PulteGroup news, CFO Robert Oshaughnessy sold 92,800 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $33.89, for a total transaction of $3,144,992.00. Following the sale, the chief financial officer now directly owns 363,722 shares in the company, valued at approximately $12,326,538.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James R. Ellinghausen sold 67,490 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $32.35, for a total transaction of $2,183,301.50. The disclosure for this sale can be found here. Insiders have sold a total of 297,202 shares of company stock worth $9,394,580 in the last three months. 0.71% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in PulteGroup by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 27,962,696 shares of the construction company’s stock worth $685,925,000 after buying an additional 403,573 shares during the period. Dimensional Fund Advisors LP raised its holdings in PulteGroup by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,574,407 shares of the construction company’s stock worth $288,984,000 after buying an additional 67,782 shares during the period. Royal Bank of Canada raised its holdings in PulteGroup by 3.0% during the 2nd quarter. Royal Bank of Canada now owns 4,813,036 shares of the construction company’s stock worth $118,064,000 after buying an additional 141,369 shares during the period. American Century Companies Inc. raised its holdings in PulteGroup by 1.0% during the 3rd quarter. American Century Companies Inc. now owns 4,774,847 shares of the construction company’s stock worth $130,497,000 after buying an additional 45,977 shares during the period. Finally, LSV Asset Management raised its holdings in PulteGroup by 150.9% during the 2nd quarter. LSV Asset Management now owns 2,029,335 shares of the construction company’s stock worth $49,779,000 after buying an additional 1,220,579 shares during the period. Hedge funds and other institutional investors own 84.53% of the company’s stock.

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PulteGroup Company Profile

PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.

Analyst Recommendations for PulteGroup (NYSE:PHM)

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