CalAtlantic Group, Inc. (NYSE:CAA) had its price objective upped by UBS AG from $42.00 to $55.00 in a report published on Friday morning. They currently have a neutral rating on the construction company’s stock.
Several other research analysts have also recently commented on the stock. JMP Securities upgraded shares of CalAtlantic Group from a market perform rating to an outperform rating and set a $44.00 price target for the company in a report on Friday, July 21st. KeyCorp reiterated a hold rating on shares of CalAtlantic Group in a report on Friday, August 25th. Mizuho started coverage on shares of CalAtlantic Group in a report on Thursday, October 26th. They set a buy rating and a $45.00 price target for the company. ValuEngine upgraded shares of CalAtlantic Group from a hold rating to a buy rating in a report on Monday, October 2nd. Finally, Wedbush reiterated an ourperform rating and set a $41.00 price target on shares of CalAtlantic Group in a report on Monday, July 31st. Thirteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. CalAtlantic Group currently has a consensus rating of Hold and a consensus price target of $45.10.
CalAtlantic Group (NYSE CAA) traded down $0.15 during trading on Friday, hitting $51.97. 2,863,600 shares of the stock were exchanged, compared to its average volume of 1,239,386. The stock has a market cap of $5,750.63, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 1.84 and a beta of 1.54. CalAtlantic Group has a twelve month low of $31.19 and a twelve month high of $52.73. The company has a quick ratio of 0.51, a current ratio of 5.91 and a debt-to-equity ratio of 0.80.
CalAtlantic Group (NYSE:CAA) last released its quarterly earnings results on Wednesday, November 8th. The construction company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.07). The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.55 billion. CalAtlantic Group had a net margin of 6.85% and a return on equity of 10.35%. CalAtlantic Group’s revenue was down 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.97 earnings per share. equities research analysts forecast that CalAtlantic Group will post 3.43 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 30th. Shareholders of record on Friday, December 15th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.31%. CalAtlantic Group’s payout ratio is currently 4.75%.
In other CalAtlantic Group news, CEO Larry T. Nicholson sold 17,033 shares of the company’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $36.00, for a total transaction of $613,188.00. Following the completion of the transaction, the chief executive officer now owns 594,600 shares in the company, valued at approximately $21,405,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 39.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in CAA. Prudential Financial Inc. raised its position in CalAtlantic Group by 5.1% during the 1st quarter. Prudential Financial Inc. now owns 45,137 shares of the construction company’s stock worth $1,690,000 after buying an additional 2,210 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of CalAtlantic Group by 3.9% during the 1st quarter. Teachers Advisors LLC now owns 95,159 shares of the construction company’s stock worth $3,564,000 after purchasing an additional 3,556 shares during the period. Legal & General Group Plc grew its stake in shares of CalAtlantic Group by 177.8% during the 1st quarter. Legal & General Group Plc now owns 54,294 shares of the construction company’s stock worth $2,033,000 after purchasing an additional 34,749 shares during the period. Vanguard Group Inc. grew its stake in shares of CalAtlantic Group by 9.8% during the 1st quarter. Vanguard Group Inc. now owns 5,884,187 shares of the construction company’s stock worth $220,362,000 after purchasing an additional 523,054 shares during the period. Finally, Morgan Stanley grew its stake in shares of CalAtlantic Group by 124.5% during the 1st quarter. Morgan Stanley now owns 304,081 shares of the construction company’s stock worth $11,387,000 after purchasing an additional 168,651 shares during the period.
CalAtlantic Group Company Profile
CalAtlantic Group, Inc is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.
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