CalAtlantic Group Inc (NYSE:CAA) Receives Consensus Rating of “Hold” from Brokerages
CalAtlantic Group Inc (NYSE:CAA) has been given a consensus rating of “Hold” by the eighteen analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $39.38.
CAA has been the topic of a number of research reports. TheStreet upgraded shares of CalAtlantic Group from a “c+” rating to a “b-” rating in a report on Tuesday, March 28th. Zacks Investment Research upgraded shares of CalAtlantic Group from a “sell” rating to a “hold” rating in a report on Friday, April 14th. Royal Bank Of Canada boosted their target price on shares of CalAtlantic Group from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, May 1st. Raymond James Financial, Inc. downgraded shares of CalAtlantic Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 2nd. Finally, ValuEngine upgraded shares of CalAtlantic Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 11th.
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Shares of CalAtlantic Group (NYSE CAA) traded up 2.26% on Friday, hitting $37.93. The stock had a trading volume of 1,437,345 shares. The stock has a market cap of $4.35 billion, a PE ratio of 10.22 and a beta of 1.45. CalAtlantic Group has a 12 month low of $30.18 and a 12 month high of $40.94. The company has a 50 day moving average price of $35.69 and a 200-day moving average price of $35.90.
CalAtlantic Group (NYSE:CAA) last announced its quarterly earnings results on Thursday, April 27th. The construction company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. CalAtlantic Group had a net margin of 6.09% and a return on equity of 7.77%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company earned $0.52 EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts anticipate that CalAtlantic Group will post $3.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were issued a dividend of $0.04 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.16 annualized dividend and a yield of 0.42%. CalAtlantic Group’s payout ratio is 4.36%.
In related news, CEO Larry T. Nicholson sold 9,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $35.94, for a total transaction of $323,460.00. Following the transaction, the chief executive officer now directly owns 620,737 shares in the company, valued at approximately $22,309,287.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David J. Matlin sold 14,510,008 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $33.22, for a total transaction of $482,022,465.76. The disclosure for this sale can be found here. Insiders have sold a total of 14,528,012 shares of company stock worth $482,666,558 over the last quarter. 39.50% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Westpac Banking Corp purchased a new position in shares of CalAtlantic Group during the first quarter valued at approximately $191,000. LS Investment Advisors LLC increased its position in shares of CalAtlantic Group by 1.4% in the first quarter. LS Investment Advisors LLC now owns 5,236 shares of the construction company’s stock valued at $196,000 after buying an additional 72 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of CalAtlantic Group during the fourth quarter valued at approximately $258,000. Doyle Wealth Management purchased a new position in shares of CalAtlantic Group during the first quarter valued at approximately $283,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of CalAtlantic Group during the second quarter valued at approximately $311,000.
About CalAtlantic Group
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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