PulteGroup (NYSE:PHM) Price Target Raised to $132.00 at Citigroup

PulteGroup (NYSE:PHM - Get Free Report) had its price target raised by investment analysts at Citigroup from $128.00 to $132.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the construction company's stock. Citigroup's price target would suggest a potential upside of 14.83% from the company's previous close.

A number of other research analysts have also recently commented on PHM. Barclays reduced their price objective 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. JPMorgan Chase & Co. boosted their price target on PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research report on Wednesday. Raymond James Financial reissued an "outperform" rating and set a $140.00 price target (up from $115.00) on shares of PulteGroup in a research report on Wednesday. Oppenheimer boosted their target price on shares of PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Evercore ISI boosted their target price on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $134.15.

PulteGroup Trading Down 0.9%

Shares of NYSE PHM traded down $1.08 during midday 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. The company has a market capitalization 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 has a quick ratio of 0.80, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. PulteGroup has a 1-year low of $88.07 and a 1-year high of $149.47. The company has a fifty day moving average price of $105.14 and a 200 day moving average price of $105.03.

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 for the quarter, beating analysts' consensus estimates of $2.92 by $0.11. The firm had revenue of $4.40 billion for 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 revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.83 earnings per share. On average, analysts predict that PulteGroup will post 12.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in PulteGroup during the 4th quarter worth approximately $427,562,000. Nuveen LLC purchased a new position in shares of PulteGroup during the first quarter valued at $213,092,000. Pacer Advisors Inc. grew its holdings in shares of PulteGroup by 2,586.8% during the first quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company's stock valued at $119,958,000 after buying an additional 1,123,471 shares in the last quarter. JPMorgan Chase & Co. grew its stake in PulteGroup by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company's stock valued at $358,395,000 after acquiring an additional 1,001,290 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in PulteGroup by 219.2% during the 1st quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company's stock valued at $106,820,000 after acquiring an additional 713,534 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other 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.