PulteGroup (NYSE:PHM) Lowered to Hold at StockNews.com

PulteGroup (NYSE:PHMGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Other equities analysts also recently issued research reports about the company. UBS Group cut their price objective on PulteGroup from $73.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, June 16th. Barclays downgraded PulteGroup from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $72.00 to $49.00 in a research note on Thursday, March 31st. The Goldman Sachs Group lowered their target price on shares of PulteGroup from $63.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, April 12th. JPMorgan Chase & Co. cut their price objective on PulteGroup from $57.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, April 13th. Finally, Citigroup cut their price target on PulteGroup from $55.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and a consensus target price of $51.58.

Shares of PHM opened at $39.72 on Wednesday. PulteGroup has a one year low of $35.03 and a one year high of $58.09. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market capitalization of $9.44 billion, a PE ratio of 4.87, a price-to-earnings-growth ratio of 0.58 and a beta of 1.32. The company’s fifty day moving average price is $42.36 and its 200 day moving average price is $47.29.

PulteGroup (NYSE:PHMGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The construction company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.13. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.09 billion. PulteGroup had a return on equity of 27.91% and a net margin of 14.58%. PulteGroup’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.28 EPS. Analysts anticipate that PulteGroup will post 10.65 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in PHM. Bank of New York Mellon Corp increased its holdings in PulteGroup by 44.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,771,204 shares of the construction company’s stock worth $173,175,000 after buying an additional 1,165,839 shares in the last quarter. First Trust Advisors LP increased its position in shares of PulteGroup by 29.4% during the 1st quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock valued at $203,232,000 after purchasing an additional 1,101,565 shares during the last quarter. Balyasny Asset Management LLC purchased a new position in shares of PulteGroup in the third quarter worth approximately $50,294,000. Goldman Sachs Group Inc. increased its holdings in PulteGroup by 71.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,553,139 shares of the construction company’s stock valued at $145,938,000 after buying an additional 1,063,628 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of PulteGroup by 36.3% in the 1st quarter. Invesco Ltd. now owns 3,651,100 shares of the construction company’s stock worth $152,982,000 after purchasing an additional 972,310 shares in the last quarter. Hedge funds and other institutional investors own 90.32% 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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