CalAtlantic Group Inc (CAA) Given Average Recommendation of “Hold” by Analysts
CalAtlantic Group Inc (NYSE:CAA) has been given an average rating of “Hold” by the eighteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $39.29.
A number of research firms recently commented on CAA. ValuEngine downgraded CalAtlantic Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 23rd. JMP Securities upgraded CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a research report on Friday, July 21st. Wedbush restated an “outperform” rating and set a $41.00 price objective on shares of CalAtlantic Group in a research report on Tuesday, June 6th. Barclays PLC upgraded CalAtlantic Group from an “underweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock in a research report on Tuesday, July 11th. Finally, Royal Bank Of Canada upped their price objective on CalAtlantic Group from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, June 7th.
In related news, Director David J. Matlin sold 14,510,008 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Larry T. Nicholson sold 9,004 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was 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 approximately $21,783,812.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,519,112 shares of company stock valued at $482,346,698. 39.50% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Thompson Davis & CO. Inc. acquired a new stake in CalAtlantic Group during the 2nd quarter worth about $138,000. Canada Pension Plan Investment Board acquired a new stake in CalAtlantic Group during the 2nd quarter worth about $154,000. Riverhead Capital Management LLC grew its position in CalAtlantic Group by 71.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,387 shares of the construction company’s stock worth $155,000 after purchasing an additional 1,827 shares during the period. Westpac Banking Corp acquired a new stake in CalAtlantic Group during the 1st quarter worth about $191,000. Finally, LS Investment Advisors LLC grew its position in CalAtlantic Group by 1.4% during the 1st quarter. LS Investment Advisors LLC now owns 5,236 shares of the construction company’s stock worth $196,000 after purchasing an additional 72 shares during the period.
Shares of CalAtlantic Group (CAA) traded up 1.50% during trading on Friday, hitting $34.60. The stock had a trading volume of 775,823 shares. The stock has a 50 day moving average of $35.30 and a 200 day moving average of $36.11. The company has a market cap of $3.81 billion, a PE ratio of 9.52 and a beta of 1.41. CalAtlantic Group has a 12 month low of $30.18 and a 12 month high of $38.63.
CalAtlantic Group (NYSE:CAA) last posted its earnings results on Thursday, July 27th. The construction company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by $0.03. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.61 billion. CalAtlantic Group had a return on equity of 9.28% and a net margin of 6.03%. CalAtlantic Group’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Equities analysts forecast that CalAtlantic Group will post $3.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.04 per share. 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 0.46%. CalAtlantic Group’s dividend payout ratio is currently 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.
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