PulteGroup (NYSE:PHM) Upgraded at Zacks Investment Research

PulteGroup (NYSE:PHM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday, January 4th. The brokerage presently has a $40.00 price target on the construction company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 18.80% from the stock’s previous close.

According to Zacks, “Shares of PulteGroup have gained 81% in the last one year, outperforming the industry. This price performance is backed by impressive earnings surprise history, surpassing the Zacks Consensus Estimate for earnings in all of the past four quarters. PulteGroup will continue to benefit from its value-creation strategy as it focuses on generating solid returns, with balanced approach across its portfolio and capital allocation plans. Prudent land investments, new value creation initiatives and solid cash position bode well. Continued favorable trends in the economy, job growth, demographics and consumer confidence can more than offset the impact of modestly higher rates, allowing the housing recovery to continue at a steady pace. However, labor shortages and gross margin compression due to rising land, labor and material costs might keep the housing momentum in check.”

Other equities research analysts have also recently issued reports about the company. B. Riley reiterated a “buy” rating on shares of PulteGroup in a report on Wednesday, November 1st. Barclays set a $26.00 target price on shares of PulteGroup and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Bank of America set a $34.00 target price on shares of PulteGroup and gave the stock a “buy” rating in a research note on Wednesday, October 25th. FBR & Co reissued a “buy” rating and issued a $31.00 target price (up from $28.00) on shares of PulteGroup in a research note on Wednesday, October 25th. Finally, Royal Bank of Canada raised their target price on shares of PulteGroup from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $31.92.

Shares of PulteGroup (NYSE:PHM) traded down $0.98 during mid-day trading on Thursday, reaching $33.67. The company had a trading volume of 5,004,600 shares, compared to its average volume of 4,295,786. The stock has a market cap of $9,900.00, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 0.71 and a beta of 1.21. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.25 and a quick ratio of 0.25. PulteGroup has a one year low of $18.54 and a one year high of $35.01.

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

In related news, insider James R. Ellinghausen sold 136,912 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $29.70, for a total transaction of $4,066,286.40. Following the completion of the transaction, the insider now owns 294,369 shares in the company, valued at $8,742,759.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Oshaughnessy sold 92,800 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $33.89, for a total transaction of $3,144,992.00. Following the transaction, the chief financial officer now owns 363,722 shares of the company’s stock, valued at approximately $12,326,538.58. The disclosure for this sale can be found here. In the last three months, insiders sold 297,202 shares of company stock worth $9,394,580. 0.71% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Flinton Capital Management LLC raised its holdings in shares of PulteGroup by 0.4% in the second quarter. Flinton Capital Management LLC now owns 12,288 shares of the construction company’s stock valued at $302,000 after buying an additional 48 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in PulteGroup by 3.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the construction company’s stock worth $100,000 after purchasing an additional 148 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in PulteGroup by 1.2% during the second quarter. Riverhead Capital Management LLC now owns 13,673 shares of the construction company’s stock worth $336,000 after purchasing an additional 159 shares in the last quarter. Thrivent Financial For Lutherans raised its holdings in PulteGroup by 2.2% during the second quarter. Thrivent Financial For Lutherans now owns 10,722 shares of the construction company’s stock worth $263,000 after purchasing an additional 230 shares in the last quarter. Finally, IHT Wealth Management LLC raised its holdings in PulteGroup by 68.5% during the second quarter. IHT Wealth Management LLC now owns 984 shares of the construction company’s stock worth $1,017,000 after purchasing an additional 400 shares in the last quarter. Institutional investors own 84.53% of the company’s stock.

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About PulteGroup

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.

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