Barclays Issues Pessimistic Forecast for PulteGroup (NYSE:PHM) Stock Price

PulteGroup (NYSE:PHM) had its price target lowered by research analysts at Barclays from $125.00 to $117.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the construction company’s stock. Barclays‘s price objective would indicate a potential downside of 1.24% from the company’s previous close.

A number of other research firms have also recently weighed in on PHM. UBS Group raised PulteGroup from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $154.00 to $148.00 in a research report on Wednesday, January 8th. Bank of America dropped their price target on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research report on Monday. The Goldman Sachs Group decreased their price target on PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. BTIG Research boosted their price target on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup reduced their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and a consensus target price of $141.71.

PulteGroup Trading Up 4.8 %

NYSE:PHM opened at $118.47 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup has a 12 month low of $100.24 and a 12 month high of $149.47. The company has a market cap of $24.30 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 0.49 and a beta of 1.67. The company has a 50 day simple moving average of $118.03 and a two-hundred day simple moving average of $127.42.

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

PulteGroup declared that its Board of Directors has initiated a share buyback plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On PulteGroup

A number of institutional investors and hedge funds have recently modified their holdings of PHM. Logan Capital Management Inc. raised its position in PulteGroup by 67.7% during the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock worth $2,124,000 after buying an additional 5,976 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of PulteGroup by 38.1% in the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock worth $17,410,000 after acquiring an additional 33,472 shares during the period. Trustmark National Bank Trust Department raised its holdings in shares of PulteGroup by 39.8% during the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock worth $5,682,000 after purchasing an additional 11,269 shares during the last quarter. Systematic Financial Management LP boosted its holdings in PulteGroup by 3.9% in the third quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock valued at $18,696,000 after purchasing an additional 4,840 shares during the last quarter. Finally, New Millennium Group LLC raised its stake in shares of PulteGroup by 10,625.8% during the 3rd quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock valued at $1,370,000 after buying an additional 9,457 shares during the last quarter. Institutional investors and hedge funds 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.