CalAtlantic Group (CAA) Stock Rating Reaffirmed by Credit Suisse Group

CalAtlantic Group (NYSE:CAA)‘s stock had its “neutral” rating reaffirmed by analysts at Credit Suisse Group in a report released on Monday. They presently have a $63.00 price objective on the industrial goods maker’s stock, up from their previous price objective of $51.00. Credit Suisse Group’s price objective would indicate a potential downside of 2.10% from the company’s previous close. The analysts noted that the move was a valuation call.

CAA has been the subject of several other research reports. Deutsche Bank downgraded shares of CalAtlantic Group from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a research note on Monday, November 20th. Mizuho downgraded shares of CalAtlantic Group from a “buy” rating to a “neutral” rating and set a $51.00 price objective for the company. in a research note on Monday, November 13th. Wedbush raised their price objective on shares of CalAtlantic Group from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, December 29th. UBS Group raised their price objective on shares of CalAtlantic Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, November 10th. Finally, Barclays raised their price objective on shares of CalAtlantic Group from $35.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Fifteen equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. CalAtlantic Group has an average rating of “Hold” and an average price target of $53.60.

Shares of CalAtlantic Group (NYSE:CAA) traded up $1.21 during trading hours on Monday, hitting $64.35. 1,089,900 shares of the company were exchanged, compared to its average volume of 1,639,569. The company has a current ratio of 5.91, a quick ratio of 0.29 and a debt-to-equity ratio of 0.80. 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 $7,476.88, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 1.77 and a beta of 1.59.

CalAtlantic Group (NYSE:CAA) last announced its quarterly earnings results 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). The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.55 billion. CalAtlantic Group had a net margin of 6.85% and a return on equity of 10.35%. The firm’s revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 EPS. equities research analysts predict that CalAtlantic Group will post 3.41 earnings per share for the current fiscal year.

In related news, Director William L. Jews sold 7,482 shares of CalAtlantic Group stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $51.52, for a total transaction of $385,472.64. Following the transaction, the director now directly owns 41,717 shares of the company’s stock, valued at $2,149,259.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jeffrey Joseph Mccall sold 65,000 shares of CalAtlantic Group stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $55.27, for a total transaction of $3,592,550.00. Following the transaction, the chief financial officer now directly owns 178,519 shares in the company, valued at $9,866,745.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 283,206 shares of company stock worth $14,970,977. Corporate insiders own 39.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of CAA. Suntrust Banks Inc. grew its holdings in CalAtlantic Group by 3.2% in the second quarter. Suntrust Banks Inc. now owns 9,496 shares of the industrial goods maker’s stock worth $334,000 after purchasing an additional 297 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in CalAtlantic Group by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 33,704 shares of the industrial goods maker’s stock worth $1,191,000 after purchasing an additional 337 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in CalAtlantic Group by 1.1% in the second quarter. PNC Financial Services Group Inc. now owns 32,483 shares of the industrial goods maker’s stock worth $1,148,000 after purchasing an additional 366 shares during the last quarter. People s United Financial Inc. grew its holdings in CalAtlantic Group by 6.3% in the second quarter. People s United Financial Inc. now owns 16,556 shares of the industrial goods maker’s stock worth $585,000 after purchasing an additional 988 shares during the last quarter. Finally, Capital Analysts LLC grew its holdings in CalAtlantic Group by 4.4% in the third quarter. Capital Analysts LLC now owns 25,982 shares of the industrial goods maker’s stock worth $952,000 after purchasing an additional 1,095 shares during the last quarter. 95.28% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for CalAtlantic Group (NYSE:CAA)

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