PulteGroup (NYSE:PHM) Upgraded by Wedbush to “Outperform” Rating

PulteGroup (NYSE:PHM) was upgraded by research analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research report issued on Friday,Briefing.com Automated Import reports. The firm currently has a $135.00 price objective on the construction company’s stock. Wedbush’s target price points to a potential upside of 25.42% from the stock’s previous close.

PHM has been the subject of a number of other reports. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Evercore ISI cut their price objective on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Oppenheimer decreased their target price on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Wells Fargo & Company cut their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, BTIG Research upped their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.14.

PulteGroup Stock Down 1.2 %

Shares of NYSE:PHM opened at $107.64 on Friday. The firm has a 50 day simple moving average of $124.61 and a 200 day simple moving average of $126.80. PulteGroup has a 52 week low of $99.03 and a 52 week high of $149.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $22.08 billion, a PE ratio of 7.94, a price-to-earnings-growth ratio of 0.48 and a beta of 1.62.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the prior year, the company earned $2.90 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts expect that PulteGroup will post 12.94 earnings per share for the current year.

Institutional Trading of PulteGroup

A number of institutional investors and hedge funds have recently modified their holdings of PHM. Fortitude Family Office LLC raised its stake in shares of PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after buying an additional 99 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in PulteGroup in the third quarter worth about $29,000. Rothschild Investment LLC bought a new position in PulteGroup during the second quarter worth about $31,000. Candriam S.C.A. acquired a new stake in PulteGroup during the second quarter valued at approximately $33,000. Finally, JNBA Financial Advisors bought a new stake in shares of PulteGroup in the 3rd quarter valued at approximately $43,000. 89.90% of the stock is currently 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.