CalAtlantic Group, Inc. (NYSE:CAA) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, May 11th.
Other equities research analysts have also issued reports about the company. TheStreet upgraded CalAtlantic Group from a “c+” rating to a “b-” rating in a research note on Tuesday, March 28th. Royal Bank of Canada restated a “buy” rating on shares of CalAtlantic Group in a research note on Friday, February 10th. MKM Partners restated a “buy” rating on shares of CalAtlantic Group in a research note on Wednesday, January 11th. Zacks Investment Research upgraded CalAtlantic Group from a “sell” rating to a “hold” rating in a research note on Friday, April 21st. Finally, FBR & Co upped their price objective on CalAtlantic Group from $38.00 to $39.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 14th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $40.56.
Shares of CalAtlantic Group (NYSE:CAA) opened at 34.80 on Thursday. The firm has a 50-day moving average price of $36.04 and a 200-day moving average price of $35.65. The stock has a market capitalization of $3.99 billion, a P/E ratio of 9.38 and a beta of 1.54. CalAtlantic Group has a 52-week low of $30.18 and a 52-week high of $40.94.
CalAtlantic Group (NYSE:CAA) last announced its earnings results on Thursday, April 27th. The construction company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.26 billion. CalAtlantic Group had a net margin of 7.52% and a return on equity of 12.04%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. On average, analysts predict that CalAtlantic Group will post $3.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Tuesday, June 13th. CalAtlantic Group’s dividend payout ratio (DPR) is presently 4.36%.
In other CalAtlantic Group news, CEO Larry T. Nicholson sold 9,000 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $35.94, for a total transaction of $323,460.00. Following the completion of the transaction, the chief executive officer now owns 620,737 shares of the company’s stock, valued at approximately $22,309,287.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. Matlin sold 14,510,008 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $33.22, for a total transaction of $482,022,465.76. The disclosure for this sale can be found here. 39.50% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Elkfork Partners LLC acquired a new position in shares of CalAtlantic Group during the fourth quarter worth approximately $145,000. LS Investment Advisors LLC increased its position in shares of CalAtlantic Group by 1.4% in the first quarter. LS Investment Advisors LLC now owns 5,236 shares of the construction company’s stock worth $196,000 after buying an additional 72 shares during the last quarter. Westpac Banking Corp acquired a new position in shares of CalAtlantic Group during the first quarter worth approximately $191,000. Oxford Asset Management acquired a new position in shares of CalAtlantic Group during the fourth quarter worth approximately $217,000. Finally, Doyle Wealth Management acquired a new position in shares of CalAtlantic Group during the first quarter worth approximately $283,000.
CalAtlantic Group Company Profile
CalAtlantic Group, Inc is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.
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