CalAtlantic Group, Inc. (CAA) Price Target Raised to $55.00

CalAtlantic Group, Inc. (NYSE:CAA) had its price objective lifted by UBS AG from $42.00 to $55.00 in a research report report published on Friday, www.benzinga.com reports. UBS AG currently has a neutral rating on the industrial goods maker’s stock.

Several other brokerages have also issued reports on CAA. Barclays PLC raised their target price on CalAtlantic Group from $35.00 to $50.00 and gave the stock an equal weight rating in a research report on Thursday, November 9th. B. Riley reissued a neutral rating on shares of CalAtlantic Group in a research report on Wednesday, November 1st. JMP Securities lowered CalAtlantic Group from an outperform rating to a market perform rating in a research report on Monday, October 30th. Mizuho set a $51.00 price objective on CalAtlantic Group and gave the stock a buy rating in a research report on Wednesday, November 1st. Finally, Credit Suisse Group raised CalAtlantic Group from an underperform rating to a neutral rating and set a $32.00 price objective for the company in a research report on Tuesday, November 7th. Fourteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $44.50.

CalAtlantic Group (NYSE:CAA) opened at $51.81 on Friday. The stock has a market capitalization of $5,734.08, a price-to-earnings ratio of 15.38, a P/E/G ratio of 1.84 and a beta of 1.54. The company has a current ratio of 5.91, a quick ratio of 0.29 and a debt-to-equity ratio of 0.80. CalAtlantic Group has a 12-month low of $31.43 and a 12-month high of $52.73.

CalAtlantic Group (NYSE:CAA) last announced its earnings results on Wednesday, November 8th. The industrial goods maker reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.07). The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.55 billion. CalAtlantic Group had a return on equity of 10.35% and a net margin of 6.85%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 earnings per share. equities research analysts anticipate that CalAtlantic Group will post 3.41 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 30th. Stockholders of record on Friday, December 15th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.31%. CalAtlantic Group’s payout ratio is presently 4.75%.

In related news, CEO Larry T. Nicholson sold 17,033 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $36.00, for a total value of $613,188.00. Following the transaction, the chief executive officer now owns 594,600 shares in the company, valued at $21,405,600. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 39.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Thompson Davis & CO. Inc. bought a new stake in CalAtlantic Group during the 2nd quarter valued at $138,000. Canada Pension Plan Investment Board bought a new position in shares of CalAtlantic Group in the second quarter worth $154,000. Riverhead Capital Management LLC increased its holdings in shares of CalAtlantic Group by 71.4% in the second quarter. Riverhead Capital Management LLC now owns 4,387 shares of the industrial goods maker’s stock worth $155,000 after purchasing an additional 1,827 shares during the period. LS Investment Advisors LLC increased its holdings in shares of CalAtlantic Group by 16.4% in the second quarter. LS Investment Advisors LLC now owns 6,095 shares of the industrial goods maker’s stock worth $215,000 after purchasing an additional 859 shares during the period. Finally, Sciencast Management LP bought a new position in shares of CalAtlantic Group in the second quarter worth $222,000.

CalAtlantic Group Company Profile

Analyst Recommendations for CalAtlantic Group (NYSE:CAA)

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