CalAtlantic Group (NYSE:CAA) Lowered to Hold at Deutsche Bank

CalAtlantic Group (NYSE:CAA) was downgraded by stock analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a report released on Monday, November 20th. They presently have a $52.00 price objective on the industrial goods maker’s stock. Deutsche Bank’s price target indicates a potential downside of 5.42% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. B. Riley reissued a “neutral” rating on shares of CalAtlantic Group in a research report on Wednesday, November 1st. Wedbush reaffirmed an “ourperform” rating and set a $41.00 price target on shares of CalAtlantic Group in a research report on Monday, July 31st. ValuEngine raised shares of CalAtlantic Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. JMP Securities lowered shares of CalAtlantic Group from an “outperform” rating to a “market perform” rating in a research report on Monday, October 30th. Finally, Mizuho assumed coverage on shares of CalAtlantic Group in a report on Thursday, October 26th. They issued a “buy” rating and a $45.00 target price for the company. Fifteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $46.11.

Shares of CalAtlantic Group (NYSE:CAA) traded up $0.61 during mid-day trading on Monday, hitting $54.98. 1,375,612 shares of the stock were exchanged, compared to its average volume of 1,300,766. CalAtlantic Group has a 1 year low of $32.47 and a 1 year high of $57.04. The company has a market cap of $6,099.29, a PE ratio of 16.35, a PEG ratio of 1.91 and a beta of 1.58. 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 (NYSE:CAA) last announced its quarterly earnings results on Wednesday, November 8th. The industrial goods maker reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.07). CalAtlantic Group had a return on equity of 10.35% and a net margin of 6.85%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the firm earned $0.97 EPS. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. equities research analysts expect that CalAtlantic Group will post 3.42 earnings per share for the current year.

In other news, CEO Larry T. Nicholson sold 78,342 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $52.55, for a total transaction of $4,116,872.10. Following the completion of the transaction, the chief executive officer now directly owns 693,033 shares in the company, valued at approximately $36,418,884.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Patrick Babel sold 12,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $52.48, for a total value of $629,760.00. Following the transaction, the executive vice president now owns 33,603 shares of the company’s stock, valued at $1,763,485.44. The disclosure for this sale can be found here. Insiders have sold a total of 235,239 shares of company stock valued at $11,991,615 over the last quarter. Corporate insiders own 39.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Denali Advisors LLC purchased a new stake in CalAtlantic Group during the 3rd quarter valued at $769,000. Greenhaven Associates Inc. increased its stake in CalAtlantic Group by 19.2% in the second quarter. Greenhaven Associates Inc. now owns 3,049,843 shares of the industrial goods maker’s stock worth $107,812,000 after purchasing an additional 491,510 shares during the period. BlueMountain Capital Management LLC increased its stake in CalAtlantic Group by 412.2% in the second quarter. BlueMountain Capital Management LLC now owns 95,767 shares of the industrial goods maker’s stock worth $3,385,000 after purchasing an additional 77,068 shares during the period. Arizona State Retirement System increased its stake in CalAtlantic Group by 1.3% in the second quarter. Arizona State Retirement System now owns 30,400 shares of the industrial goods maker’s stock worth $1,075,000 after purchasing an additional 400 shares during the period. Finally, Morgan Stanley increased its stake in CalAtlantic Group by 124.5% in the first quarter. Morgan Stanley now owns 304,081 shares of the industrial goods maker’s stock worth $11,387,000 after purchasing an additional 168,651 shares during the period.

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About CalAtlantic Group

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