PulteGroup (NYSE:PHM) PT Raised to $131.00 at Jefferies Financial Group

PulteGroup (NYSE:PHM) had its price objective boosted by equities research analysts at Jefferies Financial Group from $126.00 to $131.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 16.84% from the company’s previous close.

Several other brokerages also recently commented on PHM. Wedbush restated a “neutral” rating and issued a $85.00 price target on shares of PulteGroup in a research report on Wednesday, January 31st. Oppenheimer lifted their price target on shares of PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays lifted their price target 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. Citigroup boosted 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. Finally, Raymond James raised their price target on shares of PulteGroup from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.73.

PulteGroup Trading Down 0.6 %

Shares of NYSE PHM traded down $0.64 during trading on Wednesday, hitting $112.12. 1,357,963 shares of the company traded hands, compared to its average volume of 1,818,218. 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 firm has a market capitalization of $23.66 billion, a P/E ratio of 9.54, a P/E/G ratio of 0.52 and a beta of 1.56. The company has a 50-day moving average price of $110.73 and a 200-day moving average price of $98.96. PulteGroup has a 1 year low of $64.41 and a 1 year high of $121.07.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.47 billion. During the same quarter in the prior year, the business posted $3.63 EPS. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. On average, equities analysts predict that PulteGroup will post 11.79 EPS for the current year.

PulteGroup declared that its board has initiated a share buyback program on Tuesday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. purchased a new stake in PulteGroup in the first quarter worth $26,000. Arlington Trust Co LLC purchased a new position in shares of PulteGroup during the 3rd quarter valued at about $33,000. Baystate Wealth Management LLC raised its stake in PulteGroup by 186.5% during the 3rd quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock valued at $36,000 after purchasing an additional 319 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in PulteGroup in the 3rd quarter worth approximately $36,000. Finally, Rakuten Securities Inc. bought a new stake in PulteGroup in the 4th quarter worth approximately $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.