CalAtlantic Group (NYSE:CAA) had its target price increased by UBS Group from $55.00 to $63.00 in a research report report published on Wednesday, 99wallstreet.com reports. The firm currently has a neutral rating on the industrial goods maker’s stock.
A number of other analysts also recently commented on the company. Credit Suisse Group upgraded CalAtlantic Group from an underperform rating to a neutral rating and set a $32.00 price objective for the company in a research report on Tuesday, November 7th. Mizuho initiated coverage on CalAtlantic Group in a research report on Thursday, October 26th. They issued a buy rating and a $45.00 price objective for the company. Barclays raised their price objective on CalAtlantic Group from $35.00 to $50.00 and gave the stock an equal weight rating in a research report on Thursday, November 9th. Deutsche Bank downgraded CalAtlantic Group from a buy rating to a hold rating and set a $52.00 price objective for the company. in a research report on Monday, November 20th. Finally, JMP Securities downgraded CalAtlantic Group from an outperform rating to a market perform rating in a research report on Monday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. CalAtlantic Group presently has an average rating of Hold and a consensus target price of $50.50.
Shares of CalAtlantic Group (CAA) traded up $1.21 during trading hours on Wednesday, reaching $64.35. The company had a trading volume of 1,089,975 shares, compared to its average volume of 1,338,338. CalAtlantic Group has a 1 year low of $32.47 and a 1 year high of $64.40. The company has a market cap of $7,476.89, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 1.77 and a beta of 1.59. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.29 and a current ratio of 5.91.
CalAtlantic Group (NYSE:CAA) last announced its quarterly earnings data on Wednesday, November 8th. The industrial goods maker reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.07). CalAtlantic Group had a return on equity of 10.35% and a net margin of 6.85%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the business posted $0.97 EPS. CalAtlantic Group’s revenue was down 9.0% compared to the same quarter last year. research analysts predict that CalAtlantic Group will post 3.41 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, December 30th. Stockholders of record on Friday, December 15th were issued a $0.04 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.25%. CalAtlantic Group’s payout ratio is presently 4.75%.
In other news, Director William L. Jews sold 7,482 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $51.52, for a total value of $385,472.64. Following the completion of the transaction, the director now directly owns 41,717 shares of the company’s stock, valued at approximately $2,149,259.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Peter G. Skelly sold 20,382 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $51.63, for a total value of $1,052,322.66. Following the completion of the transaction, the chief operating officer now directly owns 174,159 shares of the company’s stock, valued at $8,991,829.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 283,206 shares of company stock valued at $14,970,977. 39.50% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its holdings in shares of CalAtlantic Group by 3.8% in the 2nd quarter. FMR LLC now owns 10,812,739 shares of the industrial goods maker’s stock worth $382,230,000 after buying an additional 400,103 shares in the last quarter. BlackRock Inc. increased its holdings in CalAtlantic Group by 4.0% during the 2nd quarter. BlackRock Inc. now owns 7,319,210 shares of the industrial goods maker’s stock valued at $258,732,000 after purchasing an additional 283,517 shares in the last quarter. Vanguard Group Inc. increased its holdings in CalAtlantic Group by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 6,099,512 shares of the industrial goods maker’s stock valued at $215,618,000 after purchasing an additional 215,325 shares in the last quarter. Sanders Capital LLC increased its holdings in CalAtlantic Group by 5.1% during the 3rd quarter. Sanders Capital LLC now owns 4,380,539 shares of the industrial goods maker’s stock valued at $175,352,000 after purchasing an additional 213,339 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in CalAtlantic Group by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,330,522 shares of the industrial goods maker’s stock valued at $121,995,000 after purchasing an additional 69,164 shares in the last quarter. 98.42% of the stock is owned by institutional investors and hedge funds.
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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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