Credit Suisse Group Reiterates “Neutral” Rating for CalAtlantic Group (CAA)

CalAtlantic Group (NYSE:CAA)‘s stock had its “neutral” rating reiterated by Credit Suisse Group in a report issued on Monday, The Fly reports. They presently have a $63.00 target price on the industrial goods maker’s stock, up from their previous target price of $51.00. Credit Suisse Group’s price objective suggests a potential downside of 2.10% from the company’s current price. The analysts noted that the move was a valuation call.

Other equities research analysts have also recently issued research reports about the stock. B. Riley reissued a “neutral” rating on shares of CalAtlantic Group in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of CalAtlantic Group from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Tuesday, January 9th. Wedbush cut shares of CalAtlantic Group from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $41.00 to $51.00 in a research report on Tuesday, October 31st. UBS Group boosted their target price on shares of CalAtlantic Group from $55.00 to $63.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Finally, ValuEngine raised shares of CalAtlantic Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Fifteen investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. CalAtlantic Group presently has a consensus rating of “Hold” and an average target price of $53.60.

CalAtlantic Group (NYSE:CAA) traded up $1.21 during mid-day trading on Monday, reaching $64.35. 1,089,900 shares of the company’s stock were exchanged, compared to its average volume of 1,639,569. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.29 and a current ratio of 5.91. CalAtlantic Group has a 1 year low of $32.47 and a 1 year high of $64.40. The company has a market capitalization of $7,476.88, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.77 and a beta of 1.59.

CalAtlantic Group (NYSE:CAA) last released its quarterly earnings data on Wednesday, November 8th. The industrial goods maker reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.07). The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.55 billion. CalAtlantic Group had a return on equity of 10.35% and a net margin of 6.85%. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the firm earned $0.97 earnings per share. research analysts expect that CalAtlantic Group will post 3.41 EPS for the current fiscal year.

In related news, CEO Larry T. Nicholson sold 100,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $51.94, for a total transaction of $5,194,000.00. Following the completion of the sale, the chief executive officer now owns 714,691 shares of the company’s stock, valued at $37,121,050.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Larry T. Nicholson sold 78,342 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $52.55, for a total transaction of $4,116,872.10. Following the sale, the chief executive officer now directly owns 693,033 shares of the company’s stock, valued at approximately $36,418,884.15. The disclosure for this sale can be found here. Insiders have sold 283,206 shares of company stock valued at $14,970,977 in the last ninety days. 39.50% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Longfellow Investment Management Co. LLC acquired a new position in CalAtlantic Group during the fourth quarter worth about $7,049,000. State of Alaska Department of Revenue acquired a new position in CalAtlantic Group during the fourth quarter worth about $270,000. Schwab Charles Investment Management Inc. raised its stake in CalAtlantic Group by 8.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 445,233 shares of the industrial goods maker’s stock worth $25,107,000 after acquiring an additional 34,351 shares in the last quarter. Bank of Montreal Can raised its stake in CalAtlantic Group by 3,757.2% during the fourth quarter. Bank of Montreal Can now owns 98,705 shares of the industrial goods maker’s stock worth $5,566,000 after acquiring an additional 96,146 shares in the last quarter. Finally, Norman Fields Gottscho Capital Management LLC acquired a new position in CalAtlantic Group during the fourth quarter worth about $230,000. 95.28% of the stock is owned by hedge funds and other institutional investors.

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CalAtlantic Group Company Profile

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.

The Fly

Analyst Recommendations for CalAtlantic Group (NYSE:CAA)

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