CalAtlantic Group (CAA) Stock Rating Reaffirmed by Credit Suisse Group

CalAtlantic Group (NYSE:CAA)‘s stock had its “neutral” rating restated by Credit Suisse Group in a note issued to investors on Monday, The Fly reports. They presently have a $63.00 price target on the industrial goods maker’s stock, up from their previous price target of $51.00. Credit Suisse Group’s target price would indicate a potential downside of 2.10% from the stock’s current price. The analysts noted that the move was a valuation call.

Several other research firms also recently commented on CAA. Mizuho downgraded shares of CalAtlantic Group from a “buy” rating to a “neutral” rating and set a $51.00 price objective for the company. in a research note on Monday, November 13th. Deutsche Bank downgraded shares of CalAtlantic Group from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a research note on Monday, November 20th. JMP Securities downgraded shares of CalAtlantic Group from an “outperform” rating to a “market perform” rating in a research note on Monday, October 30th. UBS Group initiated coverage on shares of CalAtlantic Group in a research note on Wednesday, October 25th. They set a “neutral” rating and a $42.00 price objective for the company. Finally, Wedbush downgraded shares of CalAtlantic Group from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $41.00 to $51.00 in a research note on Tuesday, October 31st. Fifteen investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $53.60.

CalAtlantic Group (NYSE:CAA) traded up $1.21 during midday trading on Monday, reaching $64.35. 1,089,900 shares of the company’s stock traded hands, compared to its average volume of 1,639,569. The company has a quick ratio of 0.29, a current ratio of 5.91 and a debt-to-equity ratio of 0.80. CalAtlantic Group has a fifty-two week low of $32.47 and a fifty-two week high of $64.40. The stock has a market capitalization of $7,476.88, a price-to-earnings ratio of 19.10, a P/E/G ratio of 1.77 and a beta of 1.59.

CalAtlantic Group (NYSE:CAA) last released 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 firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the firm posted $0.97 earnings per share. CalAtlantic Group’s revenue for the quarter was down 9.0% compared to the same quarter last year. analysts forecast that CalAtlantic Group will post 3.41 EPS for the current year.

In other CalAtlantic Group news, CEO Larry T. Nicholson sold 78,342 shares of CalAtlantic Group stock in a transaction on Monday, November 20th. The shares were sold at an average price of $52.55, for a total value of $4,116,872.10. Following the completion of the transaction, the chief executive officer now owns 693,033 shares of the company’s stock, valued at $36,418,884.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeffrey Joseph Mccall sold 65,000 shares of CalAtlantic Group stock in a transaction on Friday, December 8th. The shares were sold at an average price of $55.27, for a total transaction of $3,592,550.00. Following the completion of the transaction, the chief financial officer now directly owns 178,519 shares of the company’s stock, valued at approximately $9,866,745.13. The disclosure for this sale can be found here. Insiders have sold 283,206 shares of company stock valued at $14,970,977 over the last 90 days. 39.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Suntrust Banks Inc. increased its holdings in CalAtlantic Group by 3.2% in the second quarter. Suntrust Banks Inc. now owns 9,496 shares of the industrial goods maker’s stock valued at $334,000 after buying an additional 297 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in CalAtlantic Group by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 33,704 shares of the industrial goods maker’s stock valued at $1,191,000 after buying an additional 337 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in CalAtlantic Group by 1.1% in the second quarter. PNC Financial Services Group Inc. now owns 32,483 shares of the industrial goods maker’s stock valued at $1,148,000 after buying an additional 366 shares in the last quarter. People s United Financial Inc. increased its holdings in CalAtlantic Group by 6.3% in the second quarter. People s United Financial Inc. now owns 16,556 shares of the industrial goods maker’s stock valued at $585,000 after buying an additional 988 shares in the last quarter. Finally, Capital Analysts LLC increased its holdings in CalAtlantic Group by 4.4% in the third quarter. Capital Analysts LLC now owns 25,982 shares of the industrial goods maker’s stock valued at $952,000 after buying an additional 1,095 shares in the last quarter. 95.28% of the stock is owned by institutional investors.

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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.

The Fly

Analyst Recommendations for CalAtlantic Group (NYSE:CAA)

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