CalAtlantic Group, Inc. (CAA) Rating Lowered to Market Perform at JMP Securities
CalAtlantic Group, Inc. (NYSE:CAA) was downgraded by JMP Securities from an “outperform” rating to a “market perform” rating in a research report issued on Monday, The Fly reports.
Several other analysts have also issued reports on the stock. Mizuho assumed coverage on shares of CalAtlantic Group in a research report on Thursday. They set a “buy” rating and a $45.00 price target on the stock. UBS AG began coverage on shares of CalAtlantic Group in a research report on Wednesday, October 25th. They issued a “neutral” rating and a $42.00 target price on the stock. ValuEngine upgraded shares of CalAtlantic Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. KeyCorp restated a “hold” rating on shares of CalAtlantic Group in a research report on Friday, August 25th. Finally, Wedbush restated an “ourperform” rating and issued a $41.00 target price on shares of CalAtlantic Group in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $40.70.
CalAtlantic Group (NYSE:CAA) traded up 21.31% during midday trading on Monday, reaching $49.07. 18,229,554 shares of the company’s stock were exchanged. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 13.50 and a beta of 1.42. The firm’s 50 day moving average is $37.10 and its 200 day moving average is $36.25. CalAtlantic Group has a 52 week low of $30.20 and a 52 week high of $50.48.
CalAtlantic Group (NYSE:CAA) last posted its quarterly earnings results on Thursday, July 27th. The construction company reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.03). The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.61 billion. CalAtlantic Group had a return on equity of 11.40% and a net margin of 7.26%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.83 EPS. On average, equities analysts anticipate that CalAtlantic Group will post $3.45 earnings per share for the current year.
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In related news, CEO Larry T. Nicholson sold 17,033 shares of CalAtlantic Group stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $36.00, for a total transaction of $613,188.00. Following the completion of the transaction, the chief executive officer now owns 594,600 shares of the company’s stock, valued at $21,405,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 39.50% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Denali Advisors LLC acquired a new position in shares of CalAtlantic Group during the third quarter valued at about $769,000. Greenhaven Associates Inc. grew its holdings in shares of CalAtlantic Group by 19.2% during the second quarter. Greenhaven Associates Inc. now owns 3,049,843 shares of the construction company’s stock valued at $107,812,000 after buying an additional 491,510 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of CalAtlantic Group by 1.3% during the second quarter. Arizona State Retirement System now owns 30,400 shares of the construction company’s stock valued at $1,075,000 after buying an additional 400 shares during the last quarter. BlueMountain Capital Management LLC grew its holdings in shares of CalAtlantic Group by 412.2% during the second quarter. BlueMountain Capital Management LLC now owns 95,767 shares of the construction company’s stock valued at $3,385,000 after buying an additional 77,068 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of CalAtlantic Group by 5.1% during the first quarter. Prudential Financial Inc. now owns 45,137 shares of the construction company’s stock valued at $1,690,000 after buying an additional 2,210 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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