CalAtlantic Group Inc (CAA) Receives $54.67 Average Price Target from Brokerages

CalAtlantic Group Inc (NYSE:CAA) has earned a consensus rating of “Hold” from the eighteen analysts that are currently covering the firm, MarketBeat reports. Fourteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $54.67.

A number of equities research analysts recently issued reports on the company. Credit Suisse Group reissued a “neutral” rating and set a $63.00 price target (up from $51.00) on shares of CalAtlantic Group in a research note on Monday, January 22nd. They noted that the move was a valuation call. Wedbush raised their price target on CalAtlantic Group from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, December 29th. UBS Group raised their price target on CalAtlantic Group from $55.00 to $63.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Barclays raised their price target on CalAtlantic Group from $35.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Finally, B. Riley reissued a “neutral” rating on shares of CalAtlantic Group in a research note on Wednesday, November 1st.

Shares of CalAtlantic Group (NYSE CAA) traded down $0.04 during mid-day trading on Tuesday, hitting $52.97. The company had a trading volume of 1,086,749 shares, compared to its average volume of 1,615,098. CalAtlantic Group has a 52-week low of $33.56 and a 52-week high of $64.60. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.91 and a quick ratio of 0.29. The company has a market cap of $5,780.00 and a price-to-earnings ratio of 15.55.

CalAtlantic Group (NYSE:CAA) last issued its quarterly earnings results on Wednesday, November 8th. The industrial goods maker reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the business posted $0.97 earnings per share. CalAtlantic Group’s revenue was down 9.0% on a year-over-year basis. equities research analysts anticipate that CalAtlantic Group will post 3.3 earnings per share for the current fiscal year.

In other CalAtlantic Group news, CEO Larry T. Nicholson sold 100,000 shares of CalAtlantic Group stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $51.94, for a total transaction of $5,194,000.00. Following the completion of the sale, the chief executive officer now directly owns 714,691 shares of the company’s stock, valued at approximately $37,121,050.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Patrick Babel sold 12,000 shares of CalAtlantic Group stock in a transaction on Monday, November 20th. The shares were sold at an average price of $52.48, for a total value of $629,760.00. Following the sale, the executive vice president now directly owns 33,603 shares of the company’s stock, valued at $1,763,485.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 283,206 shares of company stock valued at $14,970,977. 39.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CAA. UBS Asset Management Americas Inc. raised its position in CalAtlantic Group by 15.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 61,901 shares of the industrial goods maker’s stock valued at $2,188,000 after purchasing an additional 8,438 shares in the last quarter. Northern Trust Corp raised its position in CalAtlantic Group by 15.5% during the 2nd quarter. Northern Trust Corp now owns 1,285,269 shares of the industrial goods maker’s stock valued at $45,436,000 after purchasing an additional 172,512 shares in the last quarter. Vanguard Group Inc. raised its position in CalAtlantic Group by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 6,099,512 shares of the industrial goods maker’s stock valued at $215,618,000 after purchasing an additional 215,325 shares in the last quarter. California Public Employees Retirement System raised its position in CalAtlantic Group by 1.9% during the 2nd quarter. California Public Employees Retirement System now owns 120,924 shares of the industrial goods maker’s stock valued at $4,275,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Suntrust Banks Inc. raised its position in CalAtlantic Group by 3.2% during the 2nd quarter. Suntrust Banks Inc. now owns 9,496 shares of the industrial goods maker’s stock valued at $334,000 after purchasing an additional 297 shares in the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for CalAtlantic Group (NYSE:CAA)

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