PulteGroup (NYSE:PHM) Price Target Increased to $160.00 by Analysts at Bank of America

PulteGroup (NYSE:PHM) had its price objective hoisted by Bank of America from $138.00 to $160.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Bank of America‘s target price would suggest a potential upside of 10.80% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. Wolfe Research cut PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Wedbush reissued a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a research report on Friday, August 16th. Barclays raised their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Oppenheimer lifted their price target on shares of PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Citigroup reduced their price target on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.71.

PulteGroup Trading Up 2.4 %

PulteGroup stock traded up $3.42 during trading hours on Thursday, reaching $144.41. 824,757 shares of the company’s stock traded hands, compared to its average volume of 1,837,549. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. PulteGroup has a fifty-two week low of $68.80 and a fifty-two week high of $145.36. The firm has a market capitalization of $30.38 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 0.55 and a beta of 1.62. The firm’s 50 day moving average is $127.82 and its 200-day moving average is $118.10.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period last year, the business earned $3.00 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts predict that PulteGroup will post 12.9 earnings per share for the current year.

Insider Buying and Selling at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the transaction, the director now owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the sale, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the completion of the transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is currently owned by insiders.

Institutional Trading of PulteGroup

Several institutional investors and hedge funds have recently made changes to their positions in PHM. Benjamin Edwards Inc. acquired a new position in PulteGroup in the 1st quarter valued at about $26,000. WR Wealth Planners LLC boosted its stake in shares of PulteGroup by 54.7% during the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after acquiring an additional 82 shares in the last quarter. LRI Investments LLC purchased a new stake in PulteGroup in the 1st quarter valued at approximately $28,000. Rothschild Investment LLC purchased a new stake in PulteGroup in the 2nd quarter valued at approximately $31,000. Finally, Candriam S.C.A. purchased a new position in shares of PulteGroup during the 2nd quarter worth $33,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.