PulteGroup, Inc. (NYSE:PHM) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• PulteGroup, Inc. has received an average rating of "Moderate Buy" from fifteen brokerages, with the average 12-month price target set at $134.15.
• Recent institutional trading reveals significant increases in holdings, with Vest Financial LLC raising its stake in PulteGroup by over 1,311% in the first quarter.
• The company reported earnings of $3.03 per share for the latest quarter, surpassing analyst expectations, despite a 4.3% decline in revenue compared to the previous year.

Shares of PulteGroup, Inc. (NYSE:PHM - Get Free Report) have been assigned an average rating of "Moderate Buy" from the fifteen brokerages that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $134.1538.

A number of research firms recently weighed in on PHM. JPMorgan Chase & Co. raised their price objective on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Wedbush reiterated an "outperform" rating and set a $135.00 target price on shares of PulteGroup in a research note on Tuesday, April 22nd. Barclays cut their target price on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, Oppenheimer increased their target price on PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd.

Hedge Funds Weigh In On PulteGroup

Institutional investors and hedge funds have recently modified their holdings of the company. WPG Advisers LLC purchased a new position in shares of PulteGroup in the 1st quarter worth $25,000. Ameriflex Group Inc. bought a new position in PulteGroup in the 4th quarter worth $37,000. TD Waterhouse Canada Inc. raised its holdings in PulteGroup by 43.0% in the 4th 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 period. American National Bank & Trust bought a new position in PulteGroup in the 1st quarter worth $39,000. Finally, Quarry LP bought a new position in PulteGroup in the 4th quarter worth $43,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Up 0.4%

PHM stock traded up $0.45 on Thursday, reaching $120.68. 1,611,086 shares of the company traded hands, compared to its average volume of 2,264,695. PulteGroup has a one year low of $88.07 and a one year high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market cap of $23.81 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 0.35 and a beta of 1.22. The firm has a fifty day simple moving average of $108.66 and a 200-day simple moving average of $105.38.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share 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 company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter last year, the company earned $3.83 EPS. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. Research analysts anticipate that PulteGroup will post 12.32 earnings per share for the current year.

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.