ValuEngine Lowers CalAtlantic Group Inc (CAA) to Buy
CalAtlantic Group Inc (NYSE:CAA) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.
Other equities analysts have also recently issued research reports about the stock. TheStreet upgraded shares of CalAtlantic Group from a “c+” rating to a “b-” rating in a research report on Tuesday, March 28th. Royal Bank of Canada restated a “buy” rating on shares of CalAtlantic Group in a research report on Friday, February 10th. Zacks Investment Research cut shares of CalAtlantic Group from a “buy” rating to a “hold” rating in a research report on Friday, February 10th. Raymond James Financial, Inc. cut shares of CalAtlantic Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 2nd. Finally, FBR & Co lifted their target price on shares of CalAtlantic Group from $38.00 to $39.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $40.89.
Shares of CalAtlantic Group (NYSE:CAA) traded down 0.94% during mid-day trading on Tuesday, reaching $36.92. 1,002,014 shares of the company traded hands. CalAtlantic Group has a 52 week low of $30.18 and a 52 week high of $40.94. The stock’s 50-day moving average is $36.92 and its 200-day moving average is $35.25. The company has a market capitalization of $4.23 billion, a P/E ratio of 9.95 and a beta of 1.43.
CalAtlantic Group (NYSE:CAA) last announced its earnings results on Thursday, April 27th. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.26 billion. CalAtlantic Group had a net margin of 7.55% and a return on equity of 12.06%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 earnings per share. On average, equities analysts predict that CalAtlantic Group will post $3.62 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a $0.04 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $0.16 dividend on an annualized basis and a yield of 0.43%. CalAtlantic Group’s payout ratio is 4.48%.
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In related news, CFO Jeffrey Joseph Mccall sold 15,758 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $36.35, for a total value of $572,803.30. Following the completion of the sale, the chief financial officer now directly owns 84,886 shares in the company, valued at $3,085,606.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 37.80% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in CAA. BlackRock Inc. increased its stake in CalAtlantic Group by 14,538.5% in the first quarter. BlackRock Inc. now owns 7,035,693 shares of the construction company’s stock worth $263,486,000 after buying an additional 6,987,630 shares during the last quarter. FMR LLC increased its stake in CalAtlantic Group by 275.8% in the fourth quarter. FMR LLC now owns 8,711,601 shares of the construction company’s stock worth $296,281,000 after buying an additional 6,393,437 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in CalAtlantic Group during the fourth quarter worth about $28,351,000. Norges Bank bought a new stake in CalAtlantic Group during the fourth quarter worth about $24,535,000. Finally, Long Pond Capital LP bought a new stake in CalAtlantic Group during the third quarter worth about $18,110,000.
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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