Citigroup Has Lowered Expectations for PulteGroup (NYSE:PHM) Stock Price

PulteGroup (NYSE:PHM) had its price objective lowered by Citigroup from $146.00 to $119.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. Citigroup’s target price suggests a potential upside of 10.41% from the company’s previous close.

Several other research firms have also recently commented on PHM. JPMorgan Chase & Co. decreased their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Barclays restated an “equal weight” rating and set a $140.00 price target (down from $150.00) on shares of PulteGroup in a report on Wednesday, December 11th. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Bank of America boosted their target price on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Oppenheimer reduced their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $144.29.

PulteGroup Price Performance

PHM stock opened at $107.78 on Monday. The firm has a 50-day moving average of $123.23 and a two-hundred day moving average of $126.95. The firm has a market capitalization of $22.10 billion, a PE ratio of 7.95, a P/E/G ratio of 0.48 and a beta of 1.67. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup has a one year low of $100.24 and a one year high of $149.47.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same quarter last year, the business posted $2.90 EPS. The company’s revenue was up 11.8% on a year-over-year basis. On average, analysts forecast that PulteGroup will post 12.94 earnings per share for the current year.

Institutional Trading of PulteGroup

Large investors have recently made changes to their positions in the business. Fortitude Family Office LLC boosted its position in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after buying an additional 99 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of PulteGroup during the third quarter valued at $29,000. Candriam S.C.A. bought a new position in PulteGroup in the second quarter valued at about $33,000. JNBA Financial Advisors acquired a new stake in PulteGroup in the third quarter worth about $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in PulteGroup by 1,059.3% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after purchasing an additional 286 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

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.