Oppenheimer Boosts PulteGroup (NYSE:PHM) Price Target to $143.00

PulteGroup (NYSE:PHM) had its price objective lifted by analysts at Oppenheimer from $138.00 to $143.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price objective suggests a potential upside of 28.41% from the company’s previous close.

PHM has been the subject of a number of other reports. Citigroup upped their price target on PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. The Goldman Sachs Group upped their price target on PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Barclays upped their price target on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, UBS Group cut PulteGroup from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $93.00 to $120.00 in a research report on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and a consensus target price of $111.73.

PulteGroup Stock Down 0.8 %

PHM opened at $111.36 on Wednesday. The business has a 50 day moving average price of $111.04 and a 200 day moving average price of $99.13. PulteGroup has a twelve month low of $64.41 and a twelve month high of $121.07. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.85. The firm has a market cap of $23.42 billion, a P/E ratio of 8.92, a price-to-earnings-growth ratio of 0.54 and a beta of 1.56.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.07. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same period in the previous year, the company earned $3.63 EPS. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. Research analysts forecast that PulteGroup will post 11.96 EPS for the current year.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now directly owns 15,389 shares in the company, valued at $1,586,452.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.83% of the company’s stock.

Institutional Trading of PulteGroup

Several large investors have recently made changes to their positions in PHM. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of PulteGroup during the first quarter worth $26,000. Arlington Trust Co LLC bought a new stake in shares of PulteGroup during the third quarter worth $33,000. Baystate Wealth Management LLC grew its holdings in shares of PulteGroup by 186.5% during the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after purchasing an additional 319 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of PulteGroup during the third quarter worth $36,000. Finally, Rakuten Securities Inc. bought a new stake in shares of PulteGroup during the fourth quarter worth $37,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

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.