Royal Bank of Canada Boosts PulteGroup (NYSE:PHM) Price Target to $120.00

PulteGroup (NYSE:PHM) had its target price increased by investment analysts at Royal Bank of Canada from $113.00 to $120.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the construction company’s stock. Royal Bank of Canada’s price objective indicates a potential downside of 4.22% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Barclays increased their target price on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday. Jefferies Financial Group boosted their price objective on PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Evercore ISI raised their target price on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Bank of America raised their price objective on shares of PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Monday. Finally, Zelman & Associates raised shares of PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $126.93.

PulteGroup Stock Performance

Shares of NYSE:PHM traded down $0.38 during mid-day trading on Wednesday, reaching $125.29. The company had a trading volume of 1,094,048 shares, compared to its average volume of 1,826,232. The company’s 50-day moving average price is $113.96 and its 200-day moving average price is $111.14. PulteGroup has a one year low of $68.80 and a one year high of $129.85. The firm has a market cap of $26.35 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 0.56 and a beta of 1.61. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, April 23rd. The construction company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.51. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.59 billion. As a group, equities research analysts anticipate that PulteGroup will post 12.64 EPS for the current fiscal year.

Hedge Funds Weigh In On PulteGroup

A number of large investors have recently added to or reduced their stakes in PHM. Blair William & Co. IL grew its stake in shares of PulteGroup by 1.9% during the first quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock valued at $3,289,000 after buying an additional 516 shares during the last quarter. Certuity LLC purchased a new stake in shares of PulteGroup during the fourth quarter valued at approximately $245,000. Banque Cantonale Vaudoise grew its holdings in shares of PulteGroup by 166.6% in the first quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock worth $1,586,000 after purchasing an additional 8,215 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in PulteGroup by 6.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company’s stock worth $35,890,000 after acquiring an additional 17,369 shares during the last quarter. Finally, Personal CFO Solutions LLC purchased a new position in shares of PulteGroup in the fourth quarter valued at about $719,000. Hedge funds and other 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.