Citigroup Lowers PulteGroup (NYSE:PHM) Price Target to $117.00

PulteGroup (NYSE:PHM) had its price objective cut by analysts at Citigroup from $129.00 to $117.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. Citigroup’s price target points to a potential upside of 11.40% from the stock’s previous close.

A number of other research firms have also issued reports on PHM. Zelman & Associates upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Raymond James restated an “outperform” rating and set a $135.00 price target (up previously from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Jefferies Financial Group boosted their price target on shares of PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Oppenheimer boosted their price target on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, StockNews.com upgraded shares of PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average target price of $112.21.

PulteGroup Stock Up 0.5 %

NYSE PHM opened at $105.03 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50 day simple moving average is $113.78 and its 200 day simple moving average is $109.77. PulteGroup has a 12 month low of $68.80 and a 12 month high of $122.72. The company has a market capitalization of $22.09 billion, a P/E ratio of 8.41, a PEG ratio of 0.49 and a beta of 1.61.

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

Institutional Trading of PulteGroup

Large investors have recently added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. bought a new stake in PulteGroup in the first quarter worth approximately $26,000. Benjamin Edwards Inc. bought a new stake in shares of PulteGroup during the 1st quarter worth $26,000. LRI Investments LLC bought a new stake in shares of PulteGroup during the 1st quarter worth $28,000. Rakuten Securities Inc. bought a new stake in shares of PulteGroup during the 4th quarter worth $37,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of PulteGroup by 335.6% during the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after buying an additional 292 shares during the period. 89.90% of the stock is owned by 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.