PulteGroup, Inc. (PHM) Rating Reiterated by Wedbush
PulteGroup, Inc. (NYSE:PHM)‘s stock had its “neutral” rating restated by equities research analysts at Wedbush in a research report issued on Tuesday. They presently have a $22.00 price target on the construction company’s stock, down from their previous price target of $27.00. Wedbush’s target price indicates a potential downside of 21.15% from the company’s previous close.
PHM has been the topic of several other research reports. FBR & Co reiterated an “outperform” rating and set a $28.00 target price (up previously from $26.00) on shares of PulteGroup in a research report on Wednesday, July 26th. Zacks Investment Research cut PulteGroup from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. MKM Partners restated a “neutral” rating on shares of PulteGroup in a report on Tuesday, September 5th. Citigroup Inc. cut PulteGroup from a “neutral” rating to a “sell” rating and set a $26.00 price target on the stock. in a report on Friday. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $28.00 price target on shares of PulteGroup in a report on Monday, September 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $25.45.
Shares of PulteGroup (PHM) traded up 2.54% during trading on Tuesday, reaching $28.61. The company’s stock had a trading volume of 3,606,217 shares. The firm has a market capitalization of $8.63 billion, a P/E ratio of 15.83 and a beta of 1.06. PulteGroup has a 52 week low of $17.69 and a 52 week high of $28.92. The company has a 50 day moving average price of $26.70 and a 200 day moving average price of $24.70.
PulteGroup (NYSE:PHM) last released its earnings results on Wednesday, October 18th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the previous year, the firm posted $0.43 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities research analysts expect that PulteGroup will post $2.06 EPS for the current fiscal year.
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Hedge funds have recently bought and sold shares of the stock. IHT Wealth Management LLC lifted its stake in PulteGroup by 68.5% in the 2nd quarter. IHT Wealth Management LLC now owns 984 shares of the construction company’s stock valued at $1,017,000 after buying an additional 400 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in PulteGroup by 3.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the construction company’s stock valued at $100,000 after buying an additional 148 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in PulteGroup by 7.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,845 shares of the construction company’s stock valued at $168,000 after buying an additional 465 shares in the last quarter. QCM Cayman Ltd. purchased a new stake in PulteGroup in the 2nd quarter valued at approximately $223,000. Finally, BKS Advisors LLC purchased a new stake in PulteGroup in the 2nd quarter valued at approximately $232,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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