PulteGroup (NYSE:PHM) Given New $131.00 Price Target at Barclays

PulteGroup (NYSE:PHM) had its price objective decreased by investment analysts at Barclays from $136.00 to $131.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. Barclays‘s price objective points to a potential upside of 11.91% from the company’s previous close.

PHM has been the subject of a number of other reports. Oppenheimer lifted their price target on PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Zelman & Associates raised shares of PulteGroup from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 24th. Jefferies Financial Group raised their price target on shares of PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Raymond James reaffirmed an “outperform” rating and set a $135.00 price objective (up previously from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Finally, Royal Bank of Canada lifted their target price on PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $111.86.

PulteGroup Price Performance

PHM stock traded up $3.22 during trading on Friday, hitting $117.06. 795,380 shares of the stock traded hands, compared to its average volume of 1,772,214. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock has a market cap of $24.62 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 0.48 and a beta of 1.61. PulteGroup has a one year low of $68.80 and a one year high of $122.72. The company has a 50 day simple moving average of $113.05 and a 200 day simple moving average of $109.90.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, April 23rd. The construction company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.36 by $0.51. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.59 billion. Equities analysts expect that PulteGroup will post 12.64 EPS for the current fiscal year.

Institutional Trading of PulteGroup

Institutional investors and hedge funds have recently modified their holdings of the business. Carolina Wealth Advisors LLC lifted its holdings in shares of PulteGroup by 13.0% in the second quarter. Carolina Wealth Advisors LLC now owns 8,116 shares of the construction company’s stock worth $894,000 after acquiring an additional 934 shares during the last quarter. CHICAGO TRUST Co NA bought a new position in PulteGroup in the 2nd quarter valued at approximately $202,000. OLD National Bancorp IN boosted its position in PulteGroup by 26.9% in the second quarter. OLD National Bancorp IN now owns 3,162 shares of the construction company’s stock valued at $348,000 after buying an additional 670 shares in the last quarter. Duncan Williams Asset Management LLC boosted its position in PulteGroup by 9.5% in the second quarter. Duncan Williams Asset Management LLC now owns 7,179 shares of the construction company’s stock valued at $790,000 after buying an additional 621 shares in the last quarter. Finally, CX Institutional grew its stake in shares of PulteGroup by 127.0% during the second quarter. CX Institutional now owns 3,603 shares of the construction company’s stock worth $397,000 after buying an additional 2,016 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Company Profile

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