Shares of CalAtlantic Group, Inc. (NYSE:CAA) reached a new 52-week high during trading on Thursday . The stock traded as high as $38.65 and last traded at $38.61, with a volume of 331,252 shares trading hands. The stock had previously closed at $38.28.
CAA has been the subject of several recent research reports. Credit Suisse Group initiated coverage on shares of CalAtlantic Group in a research note on Thursday, June 22nd. They set an “underperform” rating and a $32.00 target price for the company. JMP Securities raised shares of CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Friday, July 21st. KeyCorp reissued a “hold” rating on shares of CalAtlantic Group in a research note on Friday, August 25th. BidaskClub raised shares of CalAtlantic Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Finally, ValuEngine lowered shares of CalAtlantic Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $40.00.
The firm’s 50-day moving average is $36.16 and its 200-day moving average is $36.13. The company has a market cap of $4.25 billion, a PE ratio of 10.61 and a beta of 1.42.
CalAtlantic Group (NYSE:CAA) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.03). CalAtlantic Group had a net margin of 7.26% and a return on equity of 11.40%. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm posted $0.83 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts expect that CalAtlantic Group, Inc. will post $3.45 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Saturday, September 30th. Shareholders of record on Friday, September 15th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Thursday, September 14th. CalAtlantic Group’s payout ratio is currently 4.46%.
In other CalAtlantic Group news, CEO Larry T. Nicholson sold 17,033 shares of CalAtlantic Group stock in a transaction that occurred on Tuesday, September 26th. The shares were 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 of the company’s stock, valued at $21,405,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 39.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Thompson Davis & CO. Inc. acquired a new stake in shares of CalAtlantic Group in the second quarter valued at approximately $138,000. Canada Pension Plan Investment Board acquired a new stake in shares of CalAtlantic Group in the second quarter valued at approximately $154,000. Riverhead Capital Management LLC raised 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 construction company’s stock valued at $155,000 after purchasing an additional 1,827 shares during the last quarter. LS Investment Advisors LLC raised 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 construction company’s stock valued at $215,000 after purchasing an additional 859 shares during the last quarter. Finally, Sciencast Management LP acquired a new stake in shares of CalAtlantic Group in the second quarter valued at approximately $222,000.
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CalAtlantic Group Company Profile
CalAtlantic Group, Inc is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.
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