PulteGroup (PHM) Downgraded by Royal Bank of Canada

PulteGroup (NYSE:PHM) was downgraded by Royal Bank of Canada from a “sector perform” rating to an “underperform” rating in a research note issued on Friday, The Fly reports. The analysts noted that the move was a valuation call.

PHM has been the topic of several other research reports. Zacks Investment Research lowered PulteGroup from a “hold” rating to a “sell” rating in a report on Monday. ValuEngine upgraded PulteGroup from a “sell” rating to a “hold” rating in a research note on Tuesday, December 18th. Barclays set a $24.00 price target on PulteGroup and gave the stock a “hold” rating in a research report on Wednesday, December 12th. Bank of America downgraded PulteGroup from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a research report on Monday, November 12th. Finally, Evercore ISI raised PulteGroup to an “outperform” rating and reduced their target price for the company from $29.00 to $28.00 in a report on Thursday, October 25th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. PulteGroup currently has an average rating of “Hold” and a consensus price target of $30.67.

Shares of PulteGroup stock opened at $28.61 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.64. PulteGroup has a 12 month low of $20.64 and a 12 month high of $35.21. The firm has a market cap of $8.13 billion, a P/E ratio of 13.06, a P/E/G ratio of 0.46 and a beta of 0.79.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 23rd. The construction company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.62 billion. PulteGroup had a return on equity of 21.98% and a net margin of 8.63%. The company’s revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 earnings per share. As a group, equities research analysts anticipate that PulteGroup will post 3.59 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Flagship Harbor Advisors LLC purchased a new stake in PulteGroup in the second quarter worth about $112,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in PulteGroup in the third quarter worth approximately $145,000. Rehmann Capital Advisory Group boosted its holdings in PulteGroup by 54.9% in the second quarter. Rehmann Capital Advisory Group now owns 6,187 shares of the construction company’s stock worth $178,000 after purchasing an additional 2,193 shares during the last quarter. McKinley Carter Wealth Services Inc. bought a new position in PulteGroup in the third quarter worth approximately $259,000. Finally, Alambic Investment Management L.P. bought a new position in PulteGroup in the third quarter worth approximately $261,000. Institutional investors and hedge funds own 87.69% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.

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