CalAtlantic Group, Inc. (CAA) Given Consensus Recommendation of “Hold” by Brokerages
CalAtlantic Group, Inc. (NYSE:CAA) has earned a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $39.29.
A number of brokerages recently issued reports on CAA. Raymond James Financial, Inc. lowered CalAtlantic Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 2nd. Wedbush reissued an “ourperform” rating and issued a $41.00 target price on shares of CalAtlantic Group in a research report on Monday, July 31st. BidaskClub lowered CalAtlantic Group from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Bank of America Corporation lowered CalAtlantic Group from a “buy” rating to a “neutral” rating in a research report on Thursday, June 8th. Finally, JMP Securities raised CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research report on Friday, July 21st.
In other CalAtlantic Group news, Director David J. Matlin sold 14,510,008 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $33.22, for a total value of $482,022,465.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Larry T. Nicholson sold 9,004 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $35.61, for a total value of $320,632.44. Following the completion of the transaction, the chief executive officer now owns 611,733 shares of the company’s stock, valued at $21,783,812.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,528,112 shares of company stock valued at $482,670,158. Corporate insiders own 39.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CAA. Thompson Davis & CO. Inc. bought a new position in CalAtlantic Group during the second quarter worth $138,000. Canada Pension Plan Investment Board bought a new position in CalAtlantic Group during the second quarter worth $154,000. Riverhead Capital Management LLC increased its position in CalAtlantic Group by 71.4% in the second quarter. Riverhead Capital Management LLC now owns 4,387 shares of the construction company’s stock worth $155,000 after buying an additional 1,827 shares in the last quarter. Westpac Banking Corp bought a new position in CalAtlantic Group during the first quarter worth $191,000. Finally, LS Investment Advisors LLC increased its position in CalAtlantic Group by 1.4% in the first quarter. LS Investment Advisors LLC now owns 5,236 shares of the construction company’s stock worth $196,000 after buying an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 98.44% of the company’s stock.
TRADEMARK VIOLATION WARNING: “CalAtlantic Group, Inc. (CAA) Given Consensus Recommendation of “Hold” by Brokerages” was published by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/08/15/calatlantic-group-inc-caa-given-consensus-recommendation-of-hold-by-brokerages.html.
Shares of CalAtlantic Group (CAA) traded up 0.28% during midday trading on Tuesday, hitting $35.72. The company had a trading volume of 808,737 shares. The firm has a market capitalization of $3.94 billion, a P/E ratio of 9.83 and a beta of 1.45. CalAtlantic Group has a 12-month low of $30.18 and a 12-month high of $38.63. The firm’s 50-day moving average is $36.13 and its 200-day moving average is $36.15.
CalAtlantic Group (NYSE:CAA) last announced its earnings results on Thursday, July 27th. The construction company reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by $0.03. CalAtlantic Group had a net margin of 7.26% and a return on equity of 11.40%. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the business posted $0.83 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, analysts predict that CalAtlantic Group will post $3.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.45%. CalAtlantic Group’s dividend payout ratio is 4.46%.
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.
Receive News & Ratings for CalAtlantic Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CalAtlantic Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.