PulteGroup (NYSE:PHM) Given New $124.00 Price Target at The Goldman Sachs Group

PulteGroup (NYSE:PHM) had its price objective cut by stock analysts at The Goldman Sachs Group from $140.00 to $124.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 10.80% from the company’s current price.

PHM has been the topic of a number of other research reports. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Wells Fargo & Company decreased their target price on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. UBS Group raised PulteGroup from a “neutral” rating to a “buy” rating and dropped their target price for the company from $154.00 to $148.00 in a research report on Wednesday, January 8th. Bank of America increased their price target on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Wedbush upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.21.

PulteGroup Stock Performance

PulteGroup stock opened at $111.91 on Tuesday. The stock has a market cap of $22.95 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 0.48 and a beta of 1.67. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a 50 day simple moving average of $121.62 and a 200-day simple moving average of $126.91. PulteGroup has a 1-year low of $100.24 and a 1-year high of $149.47.

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

Hedge Funds Weigh In On PulteGroup

Several institutional investors and hedge funds have recently added to or reduced their stakes in PHM. Grove Bank & Trust increased its stake in shares of PulteGroup by 18.4% during the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock worth $66,000 after purchasing an additional 72 shares in the last quarter. Cromwell Holdings LLC grew its position in PulteGroup by 17.2% during the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after acquiring an additional 83 shares during the period. Concord Wealth Partners grew its stake in PulteGroup by 1.7% during the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock worth $718,000 after buying an additional 83 shares during the period. Ashton Thomas Private Wealth LLC lifted its stake in shares of PulteGroup by 3.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock worth $438,000 after purchasing an additional 88 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its position in shares of PulteGroup by 2.8% during the third quarter. Verdence Capital Advisors LLC now owns 3,598 shares of the construction company’s stock worth $516,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds 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.