CalAtlantic Group (CAA) Shares Gap Down to $56.18

CalAtlantic Group, Inc. (NYSE:CAA)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $57.51, but opened at $56.18. CalAtlantic Group shares last traded at $55.28, with a volume of 3096385 shares changing hands.

Several equities analysts have issued reports on CAA shares. Mizuho started coverage on CalAtlantic Group in a research note on Thursday, October 26th. They issued a “buy” rating and a $45.00 price target on the stock. ValuEngine raised CalAtlantic Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Barclays upped their target price on CalAtlantic Group from $35.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 9th. KeyCorp reaffirmed a “hold” rating on shares of CalAtlantic Group in a research report on Friday, August 25th. Finally, Deutsche Bank lowered CalAtlantic Group from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a research report on Monday, November 20th. Fifteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. CalAtlantic Group currently has a consensus rating of “Hold” and an average target price of $46.11.

The company has a quick ratio of 0.29, a current ratio of 5.91 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $6,143.42, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.93 and a beta of 1.58.

CalAtlantic Group (NYSE:CAA) last announced its quarterly earnings results on Wednesday, November 8th. The industrial goods maker reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.07). CalAtlantic Group had a return on equity of 10.35% and a net margin of 6.85%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the company posted $0.97 EPS. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. analysts expect that CalAtlantic Group, Inc. will post 3.42 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, December 30th. Investors of record on Friday, December 15th will be issued a dividend of $0.04 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.16 annualized dividend and a yield of 0.29%. CalAtlantic Group’s dividend payout ratio (DPR) is currently 4.75%.

In related news, EVP John Patrick Babel sold 12,000 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $52.48, for a total transaction of $629,760.00. Following the completion of the sale, the executive vice president now owns 33,603 shares in the company, valued at $1,763,485.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Larry T. Nicholson sold 17,033 shares of the company’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders have sold 235,239 shares of company stock valued at $11,991,615 in the last quarter. 39.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in CAA. Donald Smith & CO. Inc. bought a new stake in CalAtlantic Group during the third quarter worth $64,178,000. Balyasny Asset Management LLC grew its holdings in CalAtlantic Group by 515.5% during the second quarter. Balyasny Asset Management LLC now owns 1,261,045 shares of the industrial goods maker’s stock worth $44,578,000 after buying an additional 1,056,155 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in CalAtlantic Group by 283.8% during the third quarter. JPMorgan Chase & Co. now owns 1,189,005 shares of the industrial goods maker’s stock worth $43,054,000 after buying an additional 879,180 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in CalAtlantic Group during the second quarter worth $30,069,000. Finally, Greenhaven Associates Inc. grew its holdings in CalAtlantic Group by 19.2% during the second quarter. Greenhaven Associates Inc. now owns 3,049,843 shares of the industrial goods maker’s stock worth $107,812,000 after buying an additional 491,510 shares in the last quarter.

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