JPMorgan Chase & Co. Issues Pessimistic Forecast for PulteGroup (NYSE:PHM) Stock Price

PulteGroup (NYSE:PHM) had its target price lowered by JPMorgan Chase & Co. from $162.00 to $155.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 30.89% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company upped their price objective on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. BTIG Research upped their price target on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI decreased their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Wedbush reissued a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a research note on Tuesday, October 22nd. Finally, StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $144.50.

PulteGroup Trading Down 1.9 %

NYSE PHM opened at $118.42 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $133.08 and its two-hundred day simple moving average is $127.24. PulteGroup has a twelve month low of $99.03 and a twelve month high of $149.47. The company has a market capitalization of $24.29 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 0.50 and a beta of 1.62.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data 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. The company had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. PulteGroup’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the firm posted $2.90 EPS. Research analysts forecast that PulteGroup will post 12.94 EPS for the current fiscal year.

Institutional Trading of PulteGroup

Large investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC boosted its position in shares of PulteGroup by 3,118.4% during the third quarter. Lord Abbett & CO. LLC now owns 376,717 shares of the construction company’s stock valued at $54,070,000 after purchasing an additional 365,012 shares in the last quarter. Logan Capital Management Inc. lifted its position in PulteGroup by 67.7% during the third quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock valued at $2,124,000 after buying an additional 5,976 shares during the period. Oddo BHF Asset Management Sas bought a new stake in shares of PulteGroup during the 3rd quarter valued at $2,973,000. Franklin Resources Inc. grew its position in shares of PulteGroup by 5.5% in 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. Finally, Peapack Gladstone Financial Corp increased its stake in shares of PulteGroup by 50.9% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,336 shares of the construction company’s stock worth $766,000 after acquiring an additional 1,800 shares in the last quarter. 89.90% of the stock is owned by 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.