Goldman Sachs Group Initiates Coverage on PulteGroup (NYSE:PHM)

Stock analysts at Goldman Sachs Group assumed coverage on shares of PulteGroup (NYSE:PHM) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $45.00 price target on the construction company’s stock. Goldman Sachs Group’s price target would suggest a potential upside of 12.33% from the stock’s current price.

Several other analysts also recently commented on PHM. Zacks Investment Research raised PulteGroup from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Wednesday, October 23rd. ValuEngine cut PulteGroup from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded PulteGroup from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $30.00 to $37.50 in a report on Wednesday, September 11th. Seaport Global Securities lowered PulteGroup from a “buy” rating to a “neutral” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Co increased their price target on PulteGroup from $34.00 to $42.00 and gave the company a “market perform” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $36.40.

Shares of PHM stock opened at $40.06 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $39.24 and a two-hundred day simple moving average of $34.79. The firm has a market capitalization of $10.86 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 1.39 and a beta of 0.61. PulteGroup has a 12 month low of $24.45 and a 12 month high of $41.22.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 22nd. The construction company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.09. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.58 billion. PulteGroup had a net margin of 9.01% and a return on equity of 20.02%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 EPS. On average, equities analysts predict that PulteGroup will post 3.54 earnings per share for the current fiscal year.

In other news, SVP James L. Ossowski sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $39.95, for a total value of $399,500.00. Following the completion of the transaction, the senior vice president now directly owns 25,750 shares of the company’s stock, valued at $1,028,712.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.49% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC bought a new position in PulteGroup in the 2nd quarter valued at $202,000. Ibex Wealth Advisors bought a new stake in shares of PulteGroup during the 2nd quarter worth $37,000. Pearl River Capital LLC bought a new stake in shares of PulteGroup during the 2nd quarter worth $38,000. Neo Ivy Capital Management purchased a new position in shares of PulteGroup in the 2nd quarter worth about $39,000. Finally, Executive Wealth Management LLC boosted its holdings in shares of PulteGroup by 30.2% in the 3rd quarter. Executive Wealth Management LLC now owns 1,302 shares of the construction company’s stock worth $47,000 after buying an additional 302 shares during the last quarter. Institutional investors and hedge funds own 86.08% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.

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Analyst Recommendations for PulteGroup (NYSE:PHM)

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