MKM Partners Reaffirms “Buy” Rating for CalAtlantic Group, Inc. (CAA)

CalAtlantic Group, Inc. (NYSE:CAA)‘s stock had its “buy” rating reiterated by stock analysts at MKM Partners in a research note issued on Wednesday.

A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of CalAtlantic Group in a research note on Wednesday, September 28th. They issued a “market perform” rating on the stock. Zacks Investment Research lowered shares of CalAtlantic Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 11th. TheStreet lowered shares of CalAtlantic Group from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. FBR & Co restated a “hold” rating and issued a $38.00 target price on shares of CalAtlantic Group in a research report on Thursday, November 3rd. Finally, J P Morgan Chase & Co restated a “buy” rating on shares of CalAtlantic Group in a research report on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. CalAtlantic Group has an average rating of “Buy” and an average price target of $41.27.

Analyst Recommendations for CalAtlantic Group (NYSE:CAA)

Shares of CalAtlantic Group (NYSE:CAA) traded up 1.29% during mid-day trading on Wednesday, hitting $33.78. 314,822 shares of the company’s stock traded hands. The company has a market cap of $3.92 billion, a PE ratio of 11.68 and a beta of 1.48. CalAtlantic Group has a 52 week low of $26.97 and a 52 week high of $40.94. The firm has a 50-day moving average of $34.21 and a 200 day moving average of $34.86.

CalAtlantic Group (NYSE:CAA) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.68 billion. CalAtlantic Group had a net margin of 6.44% and a return on equity of 11.73%. The firm’s quarterly revenue was up 166.0% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. Equities research analysts predict that CalAtlantic Group will post $3.41 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, December 13th. This represents a $0.16 annualized dividend and a yield of 0.48%. CalAtlantic Group’s payout ratio is 5.56%.

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Institutional investors have recently added to or reduced their stakes in the stock. Tricadia Capital Management LLC raised its position in CalAtlantic Group by 45.3% in the third quarter. Tricadia Capital Management LLC now owns 353,000 shares of the company’s stock valued at $11,804,000 after buying an additional 110,000 shares during the last quarter. RWC Asset Management LLP raised its position in CalAtlantic Group by 61.6% in the third quarter. RWC Asset Management LLP now owns 85,092 shares of the company’s stock valued at $2,845,000 after buying an additional 32,452 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in CalAtlantic Group by 97.0% in the third quarter. Ameritas Investment Partners Inc. now owns 22,753 shares of the company’s stock valued at $761,000 after buying an additional 11,203 shares during the last quarter. Verition Fund Management LLC raised its position in CalAtlantic Group by 144.1% in the third quarter. Verition Fund Management LLC now owns 42,891 shares of the company’s stock valued at $1,434,000 after buying an additional 25,322 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new position in CalAtlantic Group during the third quarter valued at about $4,121,000.

CalAtlantic Group Company Profile

CalAtlantic Group, Inc, formerly Standard Pacific Corp., is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.

5 Day Chart for NYSE:CAA

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