Bank of America Issues Pessimistic Forecast for PulteGroup (NYSE:PHM) Stock Price

PulteGroup (NYSE:PHM) had its price target reduced by investment analysts at Bank of America from $135.00 to $134.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Bank of America‘s price target suggests a potential upside of 16.48% from the company’s current price.

PHM has been the subject of several other reports. The Goldman Sachs Group reduced their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Barclays decreased their target price on PulteGroup from $140.00 to $125.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Citigroup dropped their price target on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. dropped their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $142.29.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $115.05 on Monday. The company has a market capitalization of $23.59 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 0.46 and a beta of 1.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a fifty day moving average of $118.80 and a 200-day moving average of $127.59. PulteGroup has a one year low of $100.24 and a one year high of $149.47.

Institutional Investors Weigh In On PulteGroup

Large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its holdings in shares of PulteGroup by 5.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock worth $1,647,364,000 after buying an additional 585,735 shares during the period. FMR LLC raised its position in shares of 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 last quarter. Greenhaven Associates Inc. grew its position in PulteGroup by 0.3% during the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after buying an additional 16,871 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in PulteGroup by 7.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock worth $267,546,000 after buying an additional 135,391 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in PulteGroup by 10.0% in the 4th quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock valued at $155,856,000 after acquiring an additional 129,975 shares in the last quarter. 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.