PulteGroup (NYSE:PHM) Earns “Outperform” Rating from Oppenheimer

PulteGroup (NYSE:PHM)‘s stock had its “outperform” rating reissued by Oppenheimer in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $132.00 price objective on the construction company’s stock, up from their previous price objective of $125.00. Oppenheimer’s price target suggests a potential upside of 20.78% from the company’s current price.

Several other research analysts have also weighed in on PHM. UBS Group lowered their target price on shares of PulteGroup from $151.00 to $141.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Evercore ISI increased their price objective on shares of PulteGroup from $161.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada cut their target price on PulteGroup from $116.00 to $109.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company upped their price target on PulteGroup from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Finally, Barclays dropped their price objective on PulteGroup from $100.00 to $98.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.69.

PulteGroup Trading Up 1.2%

Shares of PulteGroup stock opened at $109.29 on Tuesday. The stock has a 50 day moving average of $103.95 and a 200 day moving average of $104.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $21.91 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.31 and a beta of 1.29. PulteGroup has a fifty-two week low of $88.07 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.47 by $0.10. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. PulteGroup had a return on equity of 22.86% and a net margin of 16.45%. During the same quarter in the prior year, the company posted $3.10 EPS. As a group, research analysts predict that PulteGroup will post 12.32 earnings per share for the current year.

Hedge Funds Weigh In On PulteGroup

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. raised its holdings in PulteGroup by 6.1% in the fourth quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company’s stock valued at $1,300,034,000 after acquiring an additional 683,592 shares in the last quarter. Geode Capital Management LLC increased its position in shares of PulteGroup by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company’s stock valued at $556,465,000 after purchasing an additional 64,947 shares during the last quarter. Norges Bank acquired a new stake in shares of PulteGroup in the 4th quarter valued at $427,562,000. JPMorgan Chase & Co. lifted its position in shares of PulteGroup by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company’s stock worth $358,395,000 after purchasing an additional 1,001,290 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of PulteGroup by 11.8% during the 1st quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company’s stock worth $264,216,000 after purchasing an additional 271,917 shares during the last quarter. Hedge funds and other 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.