CalAtlantic Group, Inc. (CAA) Given Average Rating of “Hold” by Brokerages
Shares of CalAtlantic Group, Inc. (NYSE:CAA) have earned a consensus recommendation of “Hold” from the sixteen brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and six 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.
Several equities analysts recently issued reports on the stock. JMP Securities raised shares of CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $44.00 price target for the company in a report on Friday, July 21st. Wedbush reissued an “ourperform” rating and set a $41.00 price target on shares of CalAtlantic Group in a report on Monday, July 31st. BidaskClub downgraded shares of CalAtlantic Group from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. KeyCorp reissued a “hold” rating on shares of CalAtlantic Group in a report on Friday, August 25th. Finally, Barclays PLC raised shares of CalAtlantic Group from an “underweight” rating to an “equal weight” rating and set a $35.00 price target for the company in a report on Tuesday, July 11th.
CalAtlantic Group (NYSE:CAA) traded up 1.55% on Wednesday, reaching $38.06. 1,194,041 shares of the company’s stock traded hands. CalAtlantic Group has a 52-week low of $30.18 and a 52-week high of $38.63. The stock has a market capitalization of $4.19 billion, a PE ratio of 10.47 and a beta of 1.42. The firm’s 50-day moving average is $35.03 and its 200 day moving average is $36.04.
CalAtlantic Group (NYSE:CAA) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $0.75 earnings per share (EPS) for the quarter, missing the 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 for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the business earned $0.83 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts forecast that CalAtlantic Group will post $3.44 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Saturday, September 30th. Shareholders of record on Friday, September 15th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Thursday, September 14th. CalAtlantic Group’s dividend payout ratio is presently 4.46%.
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In other CalAtlantic Group news, CEO Larry T. Nicholson sold 17,033 shares of the business’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $36.00, for a total value of $613,188.00. Following the completion of the transaction, the chief executive officer now directly owns 594,600 shares of the company’s stock, valued at $21,405,600. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 39.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Perpetual Ltd bought a new position in shares of CalAtlantic Group in the second quarter worth about $1,016,000. Brookfield Asset Management Inc. raised its stake in shares of CalAtlantic Group by 33.7% in the second quarter. Brookfield Asset Management Inc. now owns 238,300 shares of the construction company’s stock worth $8,424,000 after acquiring an additional 60,000 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of CalAtlantic Group by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 33,704 shares of the construction company’s stock worth $1,191,000 after acquiring an additional 337 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of CalAtlantic Group by 7.5% in the second quarter. Ameritas Investment Partners Inc. now owns 22,859 shares of the construction company’s stock worth $808,000 after acquiring an additional 1,600 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of CalAtlantic Group by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 107,280 shares of the construction company’s stock worth $3,793,000 after acquiring an additional 1,919 shares during the last quarter.
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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