Barclays Lowers PulteGroup (NYSE:PHM) Price Target to $125.00

PulteGroup (NYSE:PHM) had its price target dropped by investment analysts at Barclays from $140.00 to $125.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the construction company’s stock. Barclays‘s price objective indicates a potential upside of 6.74% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Citigroup cut their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Bank of America lifted their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Wells Fargo & Company reduced their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group reduced their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and a consensus target price of $144.14.

PulteGroup Stock Performance

PHM opened at $117.11 on Thursday. PulteGroup has a 1-year low of $100.24 and a 1-year high of $149.47. The company has a market cap of $24.02 billion, a price-to-earnings ratio of 8.64, a PEG ratio of 0.43 and a beta of 1.67. The company’s fifty day moving average price is $120.34 and its two-hundred day moving average price is $126.86. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.90 EPS. On average, analysts expect that PulteGroup will post 12.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC lifted its holdings in PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after purchasing an additional 4,571,757 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of PulteGroup by 5.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after buying an additional 585,735 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of PulteGroup during the 3rd quarter valued at approximately $66,485,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in PulteGroup by 357.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock worth $74,917,000 after buying an additional 407,764 shares during the period. Finally, KBC Group NV grew its stake in PulteGroup by 1,020.0% in the 3rd quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock valued at $62,568,000 after buying an additional 397,003 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

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.