Wells Fargo & Company Trims PulteGroup (NYSE:PHM) Target Price to $41.00

PulteGroup (NYSE:PHM – Get Rating) had its price objective decreased by analysts at Wells Fargo & Company from $46.00 to $41.00 in a research note issued on Friday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 13.04% from the company’s current price.

A number of other equities research analysts also recently commented on PHM. Barclays downgraded PulteGroup from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $72.00 to $49.00 in a research report on Thursday, March 31st. StockNews.com initiated coverage on PulteGroup in a research report on Thursday, March 31st. They set a “buy” rating on the stock. The Goldman Sachs Group cut their target price on PulteGroup from $63.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 12th. Wedbush cut their target price on PulteGroup from $68.00 to $57.00 in a research note on Monday, May 2nd. Finally, Bank of America raised PulteGroup from an “underperform” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Monday, February 28th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $53.83.

NYSE:PHM opened at $36.27 on Friday. The stock has a 50-day simple moving average of $42.79 and a two-hundred day simple moving average of $47.78. PulteGroup has a 52-week low of $35.86 and a 52-week high of $58.09. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market capitalization of $8.62 billion, a PE ratio of 4.44, a P/E/G ratio of 0.61 and a beta of 1.32.

PulteGroup (NYSE:PHM – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The construction company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.73 by $0.10. PulteGroup had a return on equity of 27.91% and a net margin of 14.58%. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the business earned $1.28 earnings per share. The business’s revenue was up 16.8% on a year-over-year basis. Equities analysts forecast that PulteGroup will post 10.72 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in PHM. Sugarloaf Wealth Management LLC grew its position in shares of PulteGroup by 303.2% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 504 shares of the construction company’s stock valued at $29,000 after acquiring an additional 379 shares during the period. Johnson Financial Group Inc. acquired a new stake in PulteGroup in the 4th quarter worth about $30,000. Catalyst Capital Advisors LLC acquired a new stake in PulteGroup in the 4th quarter worth about $37,000. Newbridge Financial Services Group Inc. acquired a new stake in PulteGroup in the 4th quarter worth about $39,000. Finally, Tyler Stone Wealth Management acquired a new stake in PulteGroup in the 4th quarter worth about $49,000. 90.32% of the stock is currently owned by institutional investors.

About PulteGroup (Get Rating)

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, American West, and John Wieland Homes and Neighborhoods brand names.

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