Wall Street Zen Upgrades PulteGroup (NYSE:PHM) to “Hold”

PulteGroup (NYSE:PHM) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other research analysts have also recently weighed in on PHM. Bank of America decreased their price objective on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, October 10th. UBS Group decreased their price target on shares of PulteGroup from $160.00 to $159.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Barclays set a $115.00 price objective on shares of PulteGroup in a report on Monday, December 8th. Wells Fargo & Company reduced their target price on PulteGroup from $150.00 to $132.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 6th. Finally, Evercore ISI lowered their price target on PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $135.92.

PulteGroup Stock Performance

NYSE PHM opened at $133.28 on Friday. The company’s 50 day simple moving average is $121.87 and its two-hundred day simple moving average is $123.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.81 and a quick ratio of 0.81. PulteGroup has a 1 year low of $88.07 and a 1 year high of $142.11. The stock has a market capitalization of $25.98 billion, a PE ratio of 10.26, a P/E/G ratio of 1.07 and a beta of 1.33.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.31 billion. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.35 earnings per share. Analysts predict that PulteGroup will post 12.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Evergreen Capital Management LLC lifted its position in PulteGroup by 2.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock valued at $304,000 after acquiring an additional 78 shares during the period. Fidelis Capital Partners LLC raised its position in shares of PulteGroup by 1.0% in the 2nd quarter. Fidelis Capital Partners LLC now owns 8,760 shares of the construction company’s stock worth $924,000 after purchasing an additional 85 shares during the last quarter. Apella Capital LLC grew its position in PulteGroup by 4.2% during the 3rd quarter. Apella Capital LLC now owns 2,163 shares of the construction company’s stock valued at $268,000 after purchasing an additional 87 shares during the last quarter. Cooper Financial Group increased its stake in PulteGroup by 1.4% during the 2nd quarter. Cooper Financial Group now owns 6,697 shares of the construction company’s stock valued at $706,000 after purchasing an additional 92 shares in the last quarter. Finally, CWM LLC raised its holdings in PulteGroup by 0.6% in the third quarter. CWM LLC now owns 14,308 shares of the construction company’s stock worth $1,890,000 after buying an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

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.