PulteGroup (NYSE:PHM) Price Target Lowered to $150.00 at Oppenheimer

PulteGroup (NYSE:PHM) had its target price dropped by stock analysts at Oppenheimer from $165.00 to $150.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Oppenheimer’s target price indicates a potential upside of 28.68% from the company’s current price.

A number of other research firms have also recently weighed in on PHM. The Goldman Sachs Group decreased their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Bank of America decreased their price target on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday. Barclays reduced their target price on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a report on Friday. 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 report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. reduced their price objective on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.64.

PulteGroup Price Performance

Shares of PHM stock traded down $1.94 during mid-day trading on Friday, hitting $116.57. 928,261 shares of the stock were exchanged, compared to its average volume of 2,132,375. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup has a 52-week low of $100.24 and a 52-week high of $149.47. The firm has a fifty day moving average of $118.03 and a 200 day moving average of $127.42. The company has a market cap of $23.91 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 0.49 and a beta of 1.67.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. Research analysts anticipate that PulteGroup will post 13.06 earnings per share for the current year.

PulteGroup announced that its board has approved a stock buyback plan on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Fortitude Family Office LLC raised its position in PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after purchasing an additional 99 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of PulteGroup during the 3rd quarter worth about $29,000. Hager Investment Management Services LLC purchased a new stake in PulteGroup in the 4th quarter valued at about $29,000. R Squared Ltd acquired a new position in PulteGroup in the fourth quarter valued at about $39,000. Finally, JNBA Financial Advisors purchased a new position in PulteGroup during the third quarter worth about $43,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

About PulteGroup

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.