Credit Suisse Group Reiterates “Outperform” Rating for PulteGroup (PHM)

PulteGroup (NYSE:PHM)‘s stock had its “outperform” rating reiterated by equities research analysts at Credit Suisse Group in a research report issued to clients and investors on Monday, The Fly reports. They presently have a $38.00 price objective on the construction company’s stock, up from their previous price objective of $32.00. Credit Suisse Group’s price objective points to a potential upside of 9.83% from the company’s previous close. The analysts noted that the move was a valuation call.

A number of other research analysts have also weighed in on the company. B. Riley reissued a “buy” rating on shares of PulteGroup in a report on Wednesday, November 1st. Mizuho raised PulteGroup from a “neutral” rating to a “buy” rating in a report on Thursday. Zacks Investment Research lowered PulteGroup from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. UBS Group boosted their target price on PulteGroup from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Bank of America set a $34.00 target price on PulteGroup and gave the stock a “buy” rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. PulteGroup currently has a consensus rating of “Buy” and an average target price of $32.38.

PulteGroup (NYSE PHM) traded up $0.45 during trading hours on Monday, hitting $34.60. The company’s stock had a trading volume of 3,242,900 shares, compared to its average volume of 3,740,054. The firm has a market cap of $10,170.00, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 0.56 and a beta of 1.21. PulteGroup has a 52-week low of $18.88 and a 52-week high of $35.01. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.25 and a quick ratio of 0.25.

In other news, insider James R. Ellinghausen sold 136,912 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $29.70, for a total transaction of $4,066,286.40. Following the completion of the sale, the insider now directly owns 294,369 shares in the company, valued at approximately $8,742,759.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert Oshaughnessy sold 92,800 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $33.89, for a total value of $3,144,992.00. Following the sale, the chief financial officer now owns 363,722 shares of the company’s stock, valued at $12,326,538.58. The disclosure for this sale can be found here. Insiders sold a total of 297,202 shares of company stock valued at $9,394,580 over the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in PHM. Janus Henderson Group PLC lifted its position in shares of PulteGroup by 747.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,323,075 shares of the construction company’s stock valued at $36,159,000 after acquiring an additional 1,166,885 shares during the period. Cornerstone Capital Management Holdings LLC. lifted its position in shares of PulteGroup by 2,015.5% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 1,046,201 shares of the construction company’s stock valued at $28,591,000 after acquiring an additional 996,747 shares during the period. Parametric Portfolio Associates LLC lifted its position in shares of PulteGroup by 146.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,566,185 shares of the construction company’s stock valued at $38,419,000 after acquiring an additional 931,971 shares during the period. Todd Asset Management LLC lifted its position in shares of PulteGroup by 117.0% during the 3rd quarter. Todd Asset Management LLC now owns 1,680,010 shares of the construction company’s stock valued at $45,915,000 after acquiring an additional 905,952 shares during the period. Finally, Capital Growth Management LP lifted its position in shares of PulteGroup by 90.0% during the 3rd quarter. Capital Growth Management LP now owns 1,900,000 shares of the construction company’s stock valued at $51,927,000 after acquiring an additional 900,000 shares during the period. Hedge funds and other institutional investors own 83.37% of the company’s stock.

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About PulteGroup

PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.

The Fly

Analyst Recommendations for PulteGroup (NYSE:PHM)

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