PulteGroup (NYSE:PHM) Price Target Raised to $123.00

PulteGroup (NYSE:PHM - Get Free Report) had its price objective upped by JPMorgan Chase & Co. from $121.00 to $123.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the construction company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 5.98% from the company's previous close.

Other equities analysts have also issued reports about the stock. Evercore ISI lifted their price target on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Barclays cut their price objective on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Royal Bank Of Canada increased their price target on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a report on Wednesday. Seaport Res Ptn raised shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Finally, UBS Group dropped their target price on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $134.15.

PulteGroup Stock Down 2.7%

Shares of PulteGroup stock traded down $3.22 during trading on Wednesday, hitting $116.06. 2,154,578 shares of the stock traded hands, compared to its average volume of 2,424,726. The company has a current ratio of 0.77, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock's fifty day simple moving average is $105.14 and its 200 day simple moving average is $105.03. The firm has a market cap of $22.90 billion, a P/E ratio of 8.67, a price-to-earnings-growth ratio of 0.35 and a beta of 1.29. PulteGroup has a 52-week low of $88.07 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.11. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same period last year, the business posted $3.83 EPS. The business's revenue was down 4.3% compared to the same quarter last year. On average, equities analysts predict that PulteGroup will post 12.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PulteGroup

Hedge funds and other institutional investors have recently modified their holdings of the stock. WPG Advisers LLC acquired a new stake in PulteGroup during the first quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new stake in shares of PulteGroup during the 4th quarter valued at approximately $37,000. TD Waterhouse Canada Inc. lifted its stake in PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after purchasing an additional 105 shares during the last quarter. American National Bank & Trust bought a new stake in PulteGroup during the first quarter valued at $39,000. Finally, Quarry LP acquired a new stake in shares of PulteGroup during the fourth quarter worth $43,000. Institutional investors own 89.90% of the company's stock.

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.