JPMorgan Chase & Co. Issues Pessimistic Forecast for PulteGroup (NYSE:PHM) Stock Price

PulteGroup (NYSE:PHM) had its price objective cut by JPMorgan Chase & Co. from $149.00 to $131.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 2.55% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Bank of America cut their price target on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, October 10th. Evercore ISI increased their target price on shares of PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. Wells Fargo & Company raised their target price on PulteGroup from $132.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Zacks Research lowered PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Finally, BTIG Research initiated coverage on PulteGroup in a report on Monday, December 1st. They issued a “neutral” rating for the company. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.15.

PulteGroup Stock Up 3.0%

Shares of PulteGroup stock opened at $134.43 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 1.01. PulteGroup has a 52-week low of $88.07 and a 52-week high of $142.11. The stock has a market capitalization of $26.20 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.43 and a beta of 1.33. The company’s 50 day moving average price is $125.06 and its 200-day moving average price is $125.21.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PHM. Franklin Resources Inc. boosted its position in shares of PulteGroup by 5.0% during the third quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company’s stock valued at $1,704,513,000 after purchasing an additional 609,640 shares in the last quarter. Norges Bank bought a new position in PulteGroup in the second quarter worth $404,339,000. First Trust Advisors LP lifted its position in PulteGroup by 13.3% during the third quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company’s stock valued at $478,828,000 after buying an additional 424,011 shares during the period. Invesco Ltd. boosted its holdings in shares of PulteGroup by 0.9% during the 2nd quarter. Invesco Ltd. now owns 2,634,275 shares of the construction company’s stock valued at $277,811,000 after buying an additional 23,051 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of PulteGroup during the 3rd quarter valued at $315,883,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.