Seaport Res Ptn Upgrades PulteGroup (NYSE:PHM) to "Strong-Buy"

PulteGroup (NYSE:PHM - Get Free Report) was upgraded by equities researchers at Seaport Res Ptn from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research firms have also recently weighed in on PHM. Oppenheimer restated an "outperform" rating and issued a $132.00 price target (up previously from $125.00) on shares of PulteGroup in a report on Tuesday, July 15th. UBS Group decreased their price objective on PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company raised their price objective on PulteGroup from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Evercore ISI lifted their target price on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada decreased their price target on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Six equities research 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. Based on data from MarketBeat, PulteGroup presently has an average rating of "Moderate Buy" and a consensus target price of $133.69.

PulteGroup Stock Up 11.5%

Shares of NYSE PHM opened at $121.10 on Tuesday. The stock has a market cap of $24.27 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 0.32 and a beta of 1.29. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.13. PulteGroup has a 52-week low of $88.07 and a 52-week high of $149.47. The business has a 50-day moving average price of $104.20 and a 200 day moving average price of $104.78.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, beating the consensus estimate of $2.92 by $0.11. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a return on equity of 22.86% and a net margin of 16.45%. The firm's revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.83 EPS. Equities research analysts forecast that PulteGroup will post 12.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in PulteGroup in the fourth quarter valued at $73,000. TD Private Client Wealth LLC increased its position in shares of PulteGroup by 11.0% during the fourth quarter. TD Private Client Wealth LLC now owns 2,064 shares of the construction company's stock worth $225,000 after acquiring an additional 205 shares in the last quarter. LPL Financial LLC increased its position in shares of PulteGroup by 11.2% during the fourth quarter. LPL Financial LLC now owns 390,579 shares of the construction company's stock worth $42,534,000 after acquiring an additional 39,321 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of PulteGroup by 4.7% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 32,647 shares of the construction company's stock worth $3,555,000 after acquiring an additional 1,473 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of PulteGroup during the fourth quarter worth about $730,000. 89.90% of the stock is owned by 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.

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