PulteGroup (NYSE:PHM) Earns Market Outperform Rating from Analysts at Citizens Jmp

Equities research analysts at Citizens Jmp began coverage on shares of PulteGroup (NYSE:PHM) in a report released on Wednesday,Benzinga reports. The firm set a “market outperform” rating and a $145.00 price target on the construction company’s stock. Citizens Jmp’s price objective suggests a potential upside of 19.73% from the company’s current price.

Several other analysts also recently issued reports on the company. Weiss Ratings downgraded PulteGroup from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. Barclays set a $115.00 target price on PulteGroup in a research report on Monday, December 8th. JPMorgan Chase & Co. increased their price target on PulteGroup from $136.00 to $149.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Wells Fargo & Company reduced their price objective on shares of PulteGroup from $150.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, BTIG Research began coverage on shares of PulteGroup in a report on Monday, December 1st. They set a “neutral” rating for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.15.

PulteGroup Stock Performance

Shares of PHM opened at $121.11 on Wednesday. The company’s fifty day moving average is $121.27 and its 200-day moving average is $122.49. PulteGroup has a 12 month low of $88.07 and a 12 month high of $142.11. The firm has a market cap of $23.61 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 0.97 and a beta of 1.33. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.31 billion. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. PulteGroup’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.35 EPS. Equities analysts expect that PulteGroup will post 12.32 EPS for the current fiscal year.

Hedge Funds Weigh In On PulteGroup

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AIA Group Ltd increased its holdings in shares of PulteGroup by 138.3% during the 3rd quarter. AIA Group Ltd now owns 17,357 shares of the construction company’s stock worth $2,293,000 after purchasing an additional 10,074 shares during the period. Allworth Financial LP grew its position in PulteGroup by 2.6% during the third quarter. Allworth Financial LP now owns 9,031 shares of the construction company’s stock worth $1,193,000 after buying an additional 227 shares in the last quarter. Goldentree Asset Management LP bought a new position in PulteGroup during the third quarter valued at about $39,972,000. CIBC Private Wealth Group LLC raised its holdings in PulteGroup by 88.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 14,307 shares of the construction company’s stock valued at $1,890,000 after acquiring an additional 6,710 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of PulteGroup by 6.8% in the 3rd quarter. Captrust Financial Advisors now owns 1,061,377 shares of the construction company’s stock worth $140,240,000 after acquiring an additional 67,770 shares during the period. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.