CalAtlantic Group, Inc. (CAA) Given Consensus Recommendation of “Hold” by Brokerages

CalAtlantic Group, Inc. (NYSE:CAA) has earned a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $39.29.

A number of brokerages recently issued reports on CAA. Raymond James Financial, Inc. lowered CalAtlantic Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 2nd. Wedbush reissued an “ourperform” rating and issued a $41.00 target price on shares of CalAtlantic Group in a research report on Monday, July 31st. BidaskClub lowered CalAtlantic Group from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Bank of America Corporation lowered CalAtlantic Group from a “buy” rating to a “neutral” rating in a research report on Thursday, June 8th. Finally, JMP Securities raised CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research report on Friday, July 21st.

In other CalAtlantic Group news, Director David J. Matlin sold 14,510,008 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $33.22, for a total value of $482,022,465.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Larry T. Nicholson sold 9,004 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $35.61, for a total value of $320,632.44. Following the completion of the transaction, the chief executive officer now owns 611,733 shares of the company’s stock, valued at $21,783,812.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,528,112 shares of company stock valued at $482,670,158. Corporate insiders own 39.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CAA. Thompson Davis & CO. Inc. bought a new position in CalAtlantic Group during the second quarter worth $138,000. Canada Pension Plan Investment Board bought a new position in CalAtlantic Group during the second quarter worth $154,000. Riverhead Capital Management LLC increased its position in CalAtlantic Group by 71.4% in the second quarter. Riverhead Capital Management LLC now owns 4,387 shares of the construction company’s stock worth $155,000 after buying an additional 1,827 shares in the last quarter. Westpac Banking Corp bought a new position in CalAtlantic Group during the first quarter worth $191,000. Finally, LS Investment Advisors LLC increased its position in 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 in the last quarter. Hedge funds and other institutional investors own 98.44% of the company’s stock.

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Shares of CalAtlantic Group (CAA) traded up 0.28% during midday trading on Tuesday, hitting $35.72. The company had a trading volume of 808,737 shares. The firm has a market capitalization of $3.94 billion, a P/E ratio of 9.83 and a beta of 1.45. CalAtlantic Group has a 12-month low of $30.18 and a 12-month high of $38.63. The firm’s 50-day moving average is $36.13 and its 200-day moving average is $36.15.

CalAtlantic Group (NYSE:CAA) last announced its earnings results on Thursday, July 27th. The construction company reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by $0.03. CalAtlantic Group had a net margin of 7.26% and a return on equity of 11.40%. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the business posted $0.83 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, analysts predict that CalAtlantic Group will post $3.47 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.45%. CalAtlantic Group’s dividend payout ratio is 4.46%.

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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