PulteGroup (NYSE:PHM) Stock Rating Lowered by StockNews.com

PulteGroup (NYSE:PHM) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other analysts also recently commented on the company. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. BTIG Research increased their price target on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research report on Tuesday, October 22nd. Bank of America increased their price target on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Oppenheimer decreased their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.29.

PulteGroup Stock Down 1.0 %

Shares of NYSE:PHM opened at $120.69 on Wednesday. The business’s 50 day simple moving average is $133.94 and its two-hundred day simple moving average is $127.15. The firm has a market cap of $24.75 billion, a P/E ratio of 8.89, a PEG ratio of 0.52 and a beta of 1.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. PulteGroup has a 52-week low of $95.36 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter last year, the company earned $2.90 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts forecast that PulteGroup will post 12.94 EPS for the current fiscal year.

Hedge Funds Weigh In On PulteGroup

Several hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after buying an additional 4,571,757 shares during the period. Franklin Resources Inc. boosted its stake in PulteGroup by 5.5% during the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after buying an additional 585,735 shares during the period. Westfield Capital Management Co. LP bought a new stake in PulteGroup during the third quarter valued at $66,485,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PulteGroup by 357.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock valued at $74,917,000 after buying an additional 407,764 shares during the period. Finally, KBC Group NV boosted its stake in PulteGroup by 1,020.0% during the third quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock valued at $62,568,000 after buying an additional 397,003 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

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.