PulteGroup (PHM) Earns “Outperform” Rating from Credit Suisse Group

PulteGroup (NYSE:PHM)‘s stock had its “outperform” rating reissued by equities researchers at Credit Suisse Group in a research report issued to clients and investors on Monday, The Fly reports. They currently have a $38.00 target price on the construction company’s stock, up from their previous target price of $32.00. Credit Suisse Group’s target price would suggest a potential upside of 9.83% from the company’s current price. The analysts noted that the move was a valuation call.

A number of other analysts have also recently commented on PHM. B. Riley reaffirmed a “buy” rating on shares of PulteGroup in a research report on Wednesday, November 1st. Mizuho raised PulteGroup from a “neutral” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research cut PulteGroup from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. UBS Group boosted their price objective on PulteGroup from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Bank of America set a $34.00 price objective on PulteGroup and gave the company a “buy” rating in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. PulteGroup has an average rating of “Buy” and an average target price of $32.38.

Shares of PulteGroup (NYSE PHM) traded up $0.45 on Monday, reaching $34.60. The company’s stock had a trading volume of 3,242,900 shares, compared to its average volume of 3,740,054. PulteGroup has a 12 month low of $18.88 and a 12 month high of $35.01. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.72. The firm has a market cap of $10,170.00, a PE ratio of 16.96, a P/E/G ratio of 0.56 and a beta of 1.21.

In related news, insider James R. Ellinghausen sold 136,912 shares of PulteGroup stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $29.70, for a total value of $4,066,286.40. Following the completion of the transaction, the insider now owns 294,369 shares in the company, valued at approximately $8,742,759.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James R. Ellinghausen sold 67,490 shares of PulteGroup stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $32.35, for a total value of $2,183,301.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 297,202 shares of company stock valued at $9,394,580. 0.71% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of PHM. Tower Research Capital LLC TRC increased its stake in PulteGroup by 3.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the construction company’s stock worth $100,000 after buying an additional 148 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of PulteGroup by 69.4% during the 1st quarter. IFP Advisors Inc now owns 5,507 shares of the construction company’s stock worth $103,000 after purchasing an additional 2,257 shares during the last quarter. First Quadrant L P CA acquired a new position in shares of PulteGroup during the 2nd quarter worth approximately $109,000. Invictus RG boosted its holdings in shares of PulteGroup by 1,473.4% during the 3rd quarter. Invictus RG now owns 4,264 shares of the construction company’s stock worth $117,000 after purchasing an additional 3,993 shares during the last quarter. Finally, Trust Department MB Financial Bank N A acquired a new position in shares of PulteGroup during the 1st quarter worth approximately $129,000. Institutional investors own 83.37% of the company’s stock.

TRADEMARK VIOLATION WARNING: “PulteGroup (PHM) Earns “Outperform” Rating from Credit Suisse Group” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this article on another domain, it was stolen and republished in violation of US & international copyright law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/01/22/pultegroup-phm-earns-outperform-rating-from-credit-suisse-group.html.

About PulteGroup

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.

The Fly

Analyst Recommendations for PulteGroup (NYSE:PHM)

Receive News & Ratings for PulteGroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PulteGroup and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply