PulteGroup (NYSE:PHM) Given New $140.00 Price Target at Oppenheimer

PulteGroup (NYSE:PHM - Get Free Report) had its target price hoisted by equities researchers at Oppenheimer from $132.00 to $140.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the construction company's stock. Oppenheimer's price target would suggest a potential upside of 21.79% from the stock's current price.

PHM has been the subject of several other reports. Evercore ISI lifted their price target on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Barclays dropped their target price on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Wedbush reiterated an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $134.15.

PulteGroup Stock Performance

NYSE:PHM traded down $1.08 during mid-day trading on Wednesday, hitting $114.95. The stock had a trading volume of 415,041 shares, compared to its average volume of 2,192,898. PulteGroup has a twelve month low of $88.07 and a twelve month high of $149.47. The stock has a market cap of $22.68 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 0.35 and a beta of 1.29. The company's 50 day simple moving average is $105.14 and its 200 day simple moving average is $105.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 0.77.

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

Hedge Funds Weigh In On PulteGroup

Institutional investors and hedge funds have recently bought and sold shares of the company. Merit Financial Group LLC increased its stake in shares of PulteGroup by 20.5% in the first quarter. Merit Financial Group LLC now owns 15,388 shares of the construction company's stock valued at $1,582,000 after buying an additional 2,613 shares during the period. Vest Financial LLC increased its position in PulteGroup by 1,311.3% in the 1st quarter. Vest Financial LLC now owns 312,723 shares of the construction company's stock valued at $32,148,000 after acquiring an additional 290,564 shares during the period. Hudson Capital Management LLC increased its holdings in PulteGroup by 8.6% in the first quarter. Hudson Capital Management LLC now owns 41,305 shares of the construction company's stock valued at $4,246,000 after purchasing an additional 3,266 shares during the period. NBC Securities Inc. increased its holdings in PulteGroup by 103,800.0% in the first quarter. NBC Securities Inc. now owns 5,195 shares of the construction company's stock valued at $534,000 after purchasing an additional 5,190 shares during the period. Finally, Golden State Wealth Management LLC increased its holdings in PulteGroup by 15.9% in the first quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company's stock valued at $93,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 89.90% of the company's stock.

About PulteGroup

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.