PulteGroup (NYSE:PHM) Rating Increased to Buy at Bank of America

PulteGroup (NYSE:PHMGet 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.

PulteGroup (NYSE:PHMGet Rating) last released its earnings results on Tuesday, October 25th. The construction company reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($0.04). The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $4.04 billion. PulteGroup had a net margin of 15.56% and a return on equity of 30.80%. Sell-side analysts forecast that PulteGroup will post 10.14 EPS for the current year.

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

(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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Analyst Recommendations for PulteGroup (NYSE:PHM)

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