MKM Partners Downgrades CalAtlantic Group Inc (CAA) to Neutral

CalAtlantic Group Inc (NYSE:CAA) was downgraded by MKM Partners from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday.

Other research analysts also recently issued research reports about the company. ValuEngine upgraded CalAtlantic Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Mizuho started coverage on CalAtlantic Group in a research report on Thursday, October 26th. They set a “buy” rating and a $45.00 price target on the stock. Barclays PLC raised CalAtlantic Group from an “underweight” rating to an “equal weight” rating and set a $35.00 price target on the stock in a research report on Tuesday, July 11th. KeyCorp reaffirmed a “hold” rating on shares of CalAtlantic Group in a research report on Friday, August 25th. Finally, JMP Securities cut CalAtlantic Group from an “outperform” rating to a “market perform” rating in a research report on Monday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $42.30.

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In other CalAtlantic Group news, CEO Larry T. Nicholson sold 17,033 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $36.00, for a total value of $613,188.00. Following the sale, the chief executive officer now owns 594,600 shares of the company’s stock, valued at approximately $21,405,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 39.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. purchased a new stake in shares of CalAtlantic Group in the 2nd quarter valued at about $138,000. Canada Pension Plan Investment Board bought a new position in shares of CalAtlantic Group during the 2nd quarter valued at about $154,000. Riverhead Capital Management LLC increased its position in shares of CalAtlantic Group by 71.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,387 shares of the construction company’s stock valued at $155,000 after purchasing an additional 1,827 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of CalAtlantic Group by 16.4% during the 2nd quarter. LS Investment Advisors LLC now owns 6,095 shares of the construction company’s stock valued at $215,000 after purchasing an additional 859 shares during the last quarter. Finally, Sciencast Management LP bought a new position in shares of CalAtlantic Group during the 2nd quarter valued at about $222,000.

About CalAtlantic Group

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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