Oppenheimer Cuts PulteGroup (NYSE:PHM) Price Target to $165.00

PulteGroup (NYSE:PHM) had its price objective dropped by equities researchers at Oppenheimer from $168.00 to $165.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price objective suggests a potential upside of 23.34% from the stock’s current price.

A number of other equities analysts also recently commented on PHM. Citigroup reduced their price objective on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Barclays lifted their price objective on PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. BTIG Research upped their price objective on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday. Evercore ISI raised their target price on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company upped their price target on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.14.

PulteGroup Trading Down 7.3 %

Shares of PulteGroup stock opened at $133.78 on Wednesday. PulteGroup has a 1 year low of $68.80 and a 1 year high of $149.47. The company’s fifty day simple moving average is $136.45 and its 200-day simple moving average is $122.87. The company has a market cap of $27.76 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 0.61 and a beta of 1.62. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. The business had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. PulteGroup’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.90 earnings per share. As a group, sell-side analysts expect that PulteGroup will post 12.9 EPS for the current year.

Insider Activity at PulteGroup

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the transaction, the director now owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now owns 89,323 shares in the company, valued at $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock valued at $15,814,039 over the last quarter. Corporate insiders own 0.83% of the company’s stock.

Institutional Trading of PulteGroup

Several institutional investors and hedge funds have recently made changes to their positions in PHM. WR Wealth Planners LLC grew its stake in shares of PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares during the period. LRI Investments LLC acquired a new position in shares of PulteGroup during the 1st quarter worth about $28,000. Rothschild Investment LLC bought a new stake in shares of PulteGroup in the 2nd quarter valued at about $31,000. Candriam S.C.A. acquired a new stake in shares of PulteGroup in the 2nd quarter valued at approximately $33,000. Finally, Continuum Advisory LLC raised its position in shares of PulteGroup by 94.5% in the 2nd quarter. Continuum Advisory LLC now owns 317 shares of the construction company’s stock valued at $35,000 after acquiring an additional 154 shares during the period. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.