PulteGroup (NYSE:PHM) Price Target Raised to $143.00

PulteGroup (NYSE:PHM) had its target price raised by research analysts at Oppenheimer from $138.00 to $143.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s target price would suggest a potential upside of 26.82% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. The Goldman Sachs Group raised their target price on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Royal Bank of Canada raised their target price on shares of PulteGroup from $103.00 to $106.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st. Barclays raised their target price on shares of PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Wedbush restated a “neutral” rating and issued a $85.00 target price on shares of PulteGroup in a report on Wednesday, January 31st. Finally, Citigroup raised their target price on shares of PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.67.

PulteGroup Price Performance

PHM stock opened at $112.76 on Wednesday. PulteGroup has a 52 week low of $62.35 and a 52 week 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. The company has a fifty day simple moving average of $110.73 and a two-hundred day simple moving average of $98.96. The firm has a market capitalization of $23.79 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56.

PulteGroup (NYSE:PHM) last released its quarterly earnings data 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 business had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same quarter last year, the business earned $3.63 earnings per share. PulteGroup’s quarterly revenue was down 15.5% compared to the same quarter last year. Analysts anticipate that PulteGroup will post 11.79 earnings per share for the current fiscal year.

PulteGroup announced that its board has approved a stock repurchase plan on Tuesday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the sale, the vice president now owns 15,389 shares in the company, valued at approximately $1,586,452.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of PulteGroup by 36.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 36,169 shares of the construction company’s stock worth $4,363,000 after acquiring an additional 9,592 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of PulteGroup during the 1st quarter worth approximately $26,000. Muhlenkamp & Co. Inc. raised its stake in shares of PulteGroup by 1.3% during the 1st quarter. Muhlenkamp & Co. Inc. now owns 97,864 shares of the construction company’s stock worth $11,804,000 after acquiring an additional 1,296 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of PulteGroup by 4.9% during the 1st quarter. Global Retirement Partners LLC now owns 2,226 shares of the construction company’s stock worth $269,000 after acquiring an additional 103 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of PulteGroup by 6,452.6% during the 1st quarter. Venturi Wealth Management LLC now owns 11,336 shares of the construction company’s stock worth $1,367,000 after acquiring an additional 11,163 shares in 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.