PulteGroup (NYSE:PHM) Receives “Hold” Rating from Royal Bank of Canada

PulteGroup (NYSE:PHM)‘s stock had its “hold” rating reiterated by stock analysts at Royal Bank of Canada in a research note issued to investors on Thursday, AnalystRatings.com reports.

Several other brokerages have also commented on PHM. Raymond James upgraded PulteGroup from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a report on Friday, July 24th. TheStreet upgraded PulteGroup from a “c+” rating to a “b-” rating in a research note on Tuesday, June 2nd. Barclays boosted their price target on PulteGroup from $36.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. Citigroup increased their price objective on shares of PulteGroup from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. raised shares of PulteGroup from a “neutral” rating to an “overweight” rating and set a $41.00 target price on the stock in a research report on Thursday, June 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.76.

PHM opened at $43.61 on Thursday. The firm has a market capitalization of $11.76 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.34. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.13. The business’s 50-day moving average is $36.09 and its two-hundred day moving average is $34.65. PulteGroup has a 1 year low of $17.12 and a 1 year high of $47.37.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, July 23rd. The construction company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.31. PulteGroup had a net margin of 10.94% and a return on equity of 20.10%. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that PulteGroup will post 4.14 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of PulteGroup by 77.9% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 886 shares of the construction company’s stock valued at $30,000 after purchasing an additional 388 shares in the last quarter. Verus Capital Partners LLC acquired a new position in shares of PulteGroup in the fourth quarter worth about $35,000. Lenox Wealth Management Inc. acquired a new stake in shares of PulteGroup during the 1st quarter valued at about $35,000. Tsfg LLC purchased a new position in shares of PulteGroup in the 2nd quarter valued at about $55,000. Finally, FinTrust Capital Advisors LLC raised its holdings in PulteGroup by 110.1% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,645 shares of the construction company’s stock worth $37,000 after purchasing an additional 862 shares during the period. 84.95% of the stock is currently owned by institutional investors and hedge funds.

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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