PulteGroup (NYSE:PHM) Rating Increased to Outperform at Zelman & Associates

PulteGroup (NYSE:PHM) was upgraded by investment analysts at Zelman & Associates from a “neutral” rating to an “outperform” rating in a research report issued on Wednesday, Benzinga reports.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Citigroup boosted their price objective on shares of PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Oppenheimer boosted their price objective on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday. Royal Bank of Canada boosted their price objective on shares of PulteGroup from $103.00 to $106.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. Finally, Barclays lifted their target price on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.67.

PulteGroup Stock Performance

PHM traded down $0.81 on Wednesday, hitting $111.95. The company’s stock had a trading volume of 649,105 shares, compared to its average volume of 1,809,853. The company’s 50 day simple moving average is $110.73 and its 200-day simple moving average is $98.96. The firm has a market cap of $23.62 billion, a P/E ratio of 9.57, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56. PulteGroup has a 12 month low of $64.41 and a 12 month high of $121.07. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.19.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, beating the consensus estimate of $3.21 by $0.07. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The firm had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same period last year, the firm earned $3.63 EPS. The business’s quarterly revenue was down 15.5% compared to the same quarter last year. Analysts forecast that PulteGroup will post 11.79 EPS for the current year.

PulteGroup announced that its Board of Directors has approved a share buyback plan on Tuesday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, the vice president now directly owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PulteGroup

A number of hedge funds have recently modified their holdings of PHM. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of PulteGroup in the first quarter worth approximately $26,000. Arlington Trust Co LLC bought a new position in shares of PulteGroup in the third quarter worth approximately $33,000. Baystate Wealth Management LLC boosted its position in shares of PulteGroup by 186.5% in the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after purchasing an additional 319 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of PulteGroup during the third quarter worth $36,000. Finally, Rakuten Securities Inc. bought a new position in shares of PulteGroup during the fourth quarter worth $37,000. 89.90% of the stock is currently owned by 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.