CalAtlantic Group, Inc. (CAA) Rating Increased to Neutral at Credit Suisse Group
CalAtlantic Group, Inc. (NYSE:CAA) was upgraded by equities research analysts at Credit Suisse Group from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
Several other analysts have also issued reports on CAA. Barclays PLC upgraded CalAtlantic Group from an “underweight” rating to an “equal weight” rating and set a $35.00 price objective for the company in a report on Tuesday, July 11th. JMP Securities upgraded CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Friday, July 21st. Wedbush reiterated an “ourperform” rating and set a $41.00 price objective on shares of CalAtlantic Group in a report on Monday, July 31st. KeyCorp reiterated a “hold” rating on shares of CalAtlantic Group in a report on Friday, August 25th. Finally, ValuEngine lowered CalAtlantic Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. CalAtlantic Group has a consensus rating of “Hold” and an average target price of $42.30.
Shares of CalAtlantic Group (NYSE CAA) opened at $49.31 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 8.12 and a quick ratio of 0.51. The firm has a market capitalization of $5,362.04, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.54.
In other news, CEO Larry T. Nicholson sold 17,033 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $36.00, for a total value of $613,188.00. Following the sale, 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 document filed with the SEC, which is available at the SEC website. Company insiders own 39.50% of the company’s stock.
Large investors have recently modified their holdings of the company. Thompson Davis & CO. Inc. acquired a new stake in shares of CalAtlantic Group in the second quarter valued at about $138,000. Canada Pension Plan Investment Board acquired a new stake in CalAtlantic Group during the second quarter worth about $154,000. Riverhead Capital Management LLC grew its position in CalAtlantic Group by 71.4% during 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. LS Investment Advisors LLC grew its position in CalAtlantic Group by 16.4% during the second quarter. LS Investment Advisors LLC now owns 6,095 shares of the construction company’s stock worth $215,000 after buying an additional 859 shares in the last quarter. Finally, Sciencast Management LP acquired a new stake in CalAtlantic Group during the second quarter worth about $222,000.
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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