PulteGroup (NYSE:PHM) Price Target Increased to $129.00 by Analysts at Citigroup

PulteGroup (NYSE:PHM - Get Free Report) had its price target raised by equities research analysts at Citigroup from $127.00 to $129.00 in a report released on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the construction company's stock. Citigroup's price target indicates a potential upside of 8.34% from the company's previous close.

Several other equities research analysts have also recently commented on PHM. Wedbush reissued a "neutral" rating and issued a $85.00 target price on shares of PulteGroup in a research note on Wednesday, January 31st. Zelman & Associates raised PulteGroup from a "neutral" rating to an "outperform" rating in a research note on Wednesday, April 24th. StockNews.com raised shares of PulteGroup from a "hold" rating to a "buy" rating in a research note on Wednesday, April 24th. Jefferies Financial Group upped their target price on shares of PulteGroup from $126.00 to $131.00 and gave the company a "buy" rating in a research note on Wednesday, April 24th. Finally, Raymond James restated an "outperform" rating and issued a $135.00 price objective (up previously from $120.00) on shares of PulteGroup in a research report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, PulteGroup has an average rating of "Moderate Buy" and an average target price of $111.87.

PulteGroup Price Performance

Shares of NYSE:PHM traded up $0.41 during midday trading on Friday, reaching $119.07. The company's stock had a trading volume of 1,316,442 shares, compared to its average volume of 1,794,050. PulteGroup has a fifty-two week low of $65.16 and a fifty-two week high of $122.72. The business's fifty day simple moving average is $113.73 and its 200-day simple moving average is $103.70. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $25.05 billion, a P/E ratio of 9.51, a P/E/G ratio of 0.55 and a beta of 1.56.

PulteGroup (NYSE:PHM - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The construction company reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.51. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.59 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. As a group, equities research analysts expect that PulteGroup will post 12.64 EPS for the current fiscal year.

PulteGroup announced that its board has initiated a stock repurchase program on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of PulteGroup in the 1st quarter valued at approximately $26,000. Benjamin Edwards Inc. bought a new stake in PulteGroup during the first quarter worth $26,000. Rakuten Securities Inc. acquired a new stake in PulteGroup in the fourth quarter valued at $37,000. Lindbrook Capital LLC grew its position in shares of PulteGroup by 335.6% in the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company's stock valued at $39,000 after acquiring an additional 292 shares during the period. Finally, Security National Bank acquired a new position in shares of PulteGroup during the 4th quarter worth about $40,000. 89.90% of the stock is 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. 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.