TheStreet Lowers CalAtlantic Group Inc. (CAA) to Hold
CalAtlantic Group Inc. (NYSE:CAA) was downgraded by analysts at TheStreet from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
Several other research analysts also recently issued reports on CAA. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of CalAtlantic Group in a report on Friday, June 10th. Janney Montgomery Scott raised CalAtlantic Group to a “neutral” rating in a report on Monday, June 20th. JMP Securities reaffirmed a “hold” rating on shares of CalAtlantic Group in a report on Wednesday, June 29th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $40.00 price objective on shares of CalAtlantic Group in a report on Wednesday, June 29th. Finally, MKM Partners raised CalAtlantic Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $38.00 to $47.00 in a report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $42.69.
CalAtlantic Group (NYSE:CAA) opened at 33.01 on Monday. CalAtlantic Group has a one year low of $26.97 and a one year high of $43.24. The stock has a market cap of $3.91 billion, a P/E ratio of 13.08 and a beta of 1.59. The stock’s 50 day moving average price is $34.93 and its 200-day moving average price is $35.60.
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CalAtlantic Group (NYSE:CAA) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.58. CalAtlantic Group had a return on equity of 11.24% and a net margin of 5.86%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $126.24 million. The company’s quarterly revenue was up 124.4% on a year-over-year basis. On average, analysts predict that CalAtlantic Group will post $3.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Tuesday, September 13th. CalAtlantic Group’s dividend payout ratio (DPR) is presently 6.40%.
In other CalAtlantic Group news, CMO Wendy L. Marlett sold 18,000 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $34.51, for a total transaction of $621,180.00. Following the completion of the transaction, the chief marketing officer now owns 54,396 shares in the company, valued at approximately $1,877,205.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 37.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CAA. Commerce Bank boosted its position in CalAtlantic Group by 0.3% in the second quarter. Commerce Bank now owns 14,067 shares of the company’s stock worth $516,000 after buying an additional 40 shares during the period. US Bancorp DE boosted its position in CalAtlantic Group by 0.9% in the second quarter. US Bancorp DE now owns 27,051 shares of the company’s stock worth $993,000 after buying an additional 236 shares during the period. Suntrust Banks Inc. boosted its position in CalAtlantic Group by 2.8% in the second quarter. Suntrust Banks Inc. now owns 10,126 shares of the company’s stock worth $369,000 after buying an additional 275 shares during the period. Profund Advisors LLC boosted its position in CalAtlantic Group by 2.7% in the second quarter. Profund Advisors LLC now owns 10,835 shares of the company’s stock worth $398,000 after buying an additional 281 shares during the period. Finally, Squarepoint Ops LLC boosted its position in CalAtlantic Group by 1.7% in the first quarter. Squarepoint Ops LLC now owns 22,876 shares of the company’s stock worth $765,000 after buying an additional 391 shares during the period.
CalAtlantic Group Company Profile
CalAtlantic Group, Inc, formerly Standard Pacific Corp., is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.
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