PulteGroup (NYSE:PHM – Get Rating) was upgraded by research analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Wednesday, MarketBeat reports. The brokerage currently has a $60.00 price objective on the construction company’s stock, up from their prior price objective of $46.00. Bank of America‘s price target would suggest a potential upside of 19.26% from the company’s current price.
Several other equities analysts have also weighed in on PHM. Citigroup upped their price objective on shares of PulteGroup from $49.00 to $56.00 in a report on Tuesday. KeyCorp upped their target price on shares of PulteGroup from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, November 14th. JPMorgan Chase & Co. upped their target price on shares of PulteGroup from $43.50 to $65.00 in a report on Tuesday, November 22nd. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. Finally, Raymond James downgraded shares of PulteGroup from a “strong-buy” rating to a “market perform” rating in a research report on Friday, October 21st. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.08.
PulteGroup Stock Performance
Shares of PulteGroup stock opened at $50.31 on Wednesday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.25. PulteGroup has a twelve month low of $35.03 and a twelve month high of $58.09. The stock has a market cap of $11.46 billion, a price-to-earnings ratio of 5.10, a P/E/G ratio of 3.95 and a beta of 1.24. The company’s fifty day moving average is $44.76 and its 200 day moving average is $42.43.
Institutional Investors Weigh In On PulteGroup
A number of large investors have recently modified their holdings of the stock. First National Bank of South Miami lifted its position in PulteGroup by 17.4% during the 4th quarter. First National Bank of South Miami now owns 4,241 shares of the construction company’s stock valued at $193,000 after acquiring an additional 629 shares during the period. Assenagon Asset Management S.A. grew its position in PulteGroup by 34.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 62,467 shares of the construction company’s stock valued at $2,844,000 after buying an additional 16,071 shares during the period. Accurate Wealth Management LLC bought a new stake in PulteGroup during the fourth quarter valued at approximately $47,000. Greenhaven Associates Inc. boosted its position in shares of PulteGroup by 6.0% in the fourth quarter. Greenhaven Associates Inc. now owns 5,623,990 shares of the construction company’s stock worth $256,060,000 after purchasing an additional 318,680 shares during the period. Finally, Yousif Capital Management LLC boosted its position in shares of PulteGroup by 3.9% in the fourth quarter. Yousif Capital Management LLC now owns 44,259 shares of the construction company’s stock worth $2,015,000 after purchasing an additional 1,653 shares during the period. Institutional investors own 88.07% of the company’s stock.
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, American West, and John Wieland Homes and Neighborhoods brand names.
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