Susquehanna Reiterates “Neutral” Rating for PulteGroup (PHM)
PulteGroup (NYSE:PHM)‘s stock had its “neutral” rating reaffirmed by analysts at Susquehanna in a research report issued to clients and investors on Friday, AR Network reports. They currently have a $17.00 price target on the stock, up from their previous price target of $15.00. Susquehanna’s price target would suggest a potential upside of 7.19% from the stock’s previous close.
The analysts wrote, “Fundamentally, homebuilder traffic and orders have shown resilience in late Summer and early Fall. Rates have moved off highs, affordability remains strong, mortgage credit is getting looser, and home prices continue to move in the right direction. The builder stocks have been disproportionately punished in the past ten days on default concerns. Additionally, in each of the last six years, buying the homebuilder stocks before Thanksgiving and selling them on tax day has generated positive returns every year, at an average of 22.5% per season.”
A number of other firms have also recently commented on PHM. Analysts at Zacks downgraded shares of PulteGroup from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, September 17th. They now have a $16.00 price target on the stock. Separately, analysts at Credit Suisse cut their price target on shares of PulteGroup from $21.00 to $20.00 in a research note to investors on Tuesday, September 10th. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. PulteGroup has an average rating of “Hold” and an average price target of $20.15.
Shares of PulteGroup (NYSE:PHM) traded up 1.64% on Friday, hitting $16.12. 2,222,726 shares of the company’s stock traded hands. PulteGroup has a 52-week low of $14.23 and a 52-week high of $24.47. The stock’s 50-day moving average is $16.34 and its 200-day moving average is $18.80. The company has a market cap of $6.260 billion and a P/E ratio of 20.95.
PulteGroup (NYSE:PHM) last released its earnings data on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.30 by $0.02. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the company posted $0.11 earnings per share. PulteGroup’s revenue was up 19.6% compared to the same quarter last year. Analysts expect that PulteGroup will post $1.06 EPS for the current fiscal year.
PulteGroup, Inc (NYSE:PHM) is a homebuilder in the United States.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.