CalAtlantic Group (NYSE:CAA) has been assigned a $64.00 price objective by research analysts at Mizuho in a report released on Thursday. The brokerage presently has a “hold” rating on the industrial goods maker’s stock. Mizuho’s target price indicates a potential downside of 0.54% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised CalAtlantic Group from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Tuesday, January 9th. ValuEngine raised CalAtlantic Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Barclays lifted their target price on CalAtlantic Group from $35.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, November 9th. Deutsche Bank downgraded CalAtlantic Group from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a report on Monday, November 20th. Finally, JMP Securities downgraded CalAtlantic Group from an “outperform” rating to a “market perform” rating in a report on Monday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. CalAtlantic Group has a consensus rating of “Hold” and an average target price of $50.50.
CalAtlantic Group (NYSE CAA) traded up $1.21 on Thursday, hitting $64.35. The stock had a trading volume of 1,089,975 shares, compared to its average volume of 1,639,569. CalAtlantic Group has a 12 month low of $32.47 and a 12 month high of $64.40. The company has a quick ratio of 0.29, a current ratio of 5.91 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $7,030.00 and a P/E ratio of 19.09.
CalAtlantic Group (NYSE:CAA) last posted its earnings results on Wednesday, November 8th. The industrial goods maker reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.07). CalAtlantic Group had a return on equity of 10.35% and a net margin of 6.85%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the business posted $0.97 EPS. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. sell-side analysts expect that CalAtlantic Group will post 3.41 EPS for the current year.
In other CalAtlantic Group news, CEO Larry T. Nicholson sold 100,000 shares of CalAtlantic Group stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $51.94, for a total value of $5,194,000.00. Following the transaction, the chief executive officer now owns 714,691 shares in the company, valued at $37,121,050.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeffrey Joseph Mccall sold 65,000 shares of CalAtlantic Group stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $55.27, for a total value of $3,592,550.00. Following the completion of the transaction, the chief financial officer now owns 178,519 shares in the company, valued at approximately $9,866,745.13. The disclosure for this sale can be found here. Insiders sold 283,206 shares of company stock worth $14,970,977 in the last 90 days. 39.50% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CAA. Riverhead Capital Management LLC grew its position in CalAtlantic Group by 71.4% in the second quarter. Riverhead Capital Management LLC now owns 4,387 shares of the industrial goods maker’s stock valued at $155,000 after acquiring an additional 1,827 shares during the last quarter. Sciencast Management LP bought a new position in CalAtlantic Group in the second quarter valued at about $222,000. Norman Fields Gottscho Capital Management LLC bought a new position in CalAtlantic Group in the fourth quarter valued at about $230,000. Vantage Financial Partners Ltd. Inc. bought a new position in CalAtlantic Group in the third quarter valued at about $253,000. Finally, Virtu Financial LLC bought a new position in CalAtlantic Group in the third quarter valued at about $253,000. Hedge funds and other institutional investors own 98.42% of the company’s stock.
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.