PulteGroup’s (PHM) Hold Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their hold rating on shares of PulteGroup (NYSE:PHM) in a report published on Thursday morning, AnalystRatings.com reports.

A number of other research firms also recently issued reports on PHM. Raymond James raised PulteGroup from a market perform rating to an outperform rating and set a $48.00 target price for the company in a research report on Friday, July 24th. Cfra lifted their price objective on PulteGroup from $18.00 to $29.00 and gave the stock a hold rating in a report on Thursday, April 23rd. Zacks Investment Research upgraded PulteGroup from a hold rating to a strong-buy rating and set a $46.00 price target on the stock in a report on Tuesday, July 28th. Citigroup raised their price objective on PulteGroup from $43.00 to $44.00 and gave the company a buy rating in a research report on Wednesday, July 22nd. Finally, Susquehanna Bancshares cut shares of PulteGroup from a positive rating to a neutral rating and increased their price target for the company from $34.00 to $37.00 in a report on Tuesday, July 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $42.76.

Shares of NYSE PHM traded down $0.27 during mid-day trading on Thursday, reaching $43.60. The company had a trading volume of 2,694,840 shares, compared to its average volume of 3,628,256. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 1.13. PulteGroup has a one year low of $17.12 and a one year high of $47.37. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 1.12 and a beta of 1.34. The business’s 50-day simple moving average is $36.09 and its 200 day simple moving average is $34.65.

PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, July 23rd. The construction company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.31. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.53 billion. PulteGroup had a net margin of 10.94% and a return on equity of 20.10%. PulteGroup’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. On average, sell-side analysts anticipate that PulteGroup will post 4.14 EPS for the current year.

Several hedge funds have recently made changes to their positions in PHM. Norges Bank purchased a new position in shares of PulteGroup during the 4th quarter valued at $110,791,000. Greenhaven Associates Inc. lifted its stake in PulteGroup by 57.3% in the second quarter. Greenhaven Associates Inc. now owns 5,250,246 shares of the construction company’s stock valued at $178,666,000 after buying an additional 1,911,503 shares in the last quarter. Wells Fargo & Company MN increased its holdings in PulteGroup by 68.8% during the first quarter. Wells Fargo & Company MN now owns 2,578,499 shares of the construction company’s stock worth $57,553,000 after buying an additional 1,050,585 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of PulteGroup by 66.8% in the first quarter. Deutsche Bank AG now owns 2,194,214 shares of the construction company’s stock valued at $48,976,000 after purchasing an additional 878,855 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of PulteGroup by 26.8% in the first quarter. Janus Henderson Group PLC now owns 4,035,807 shares of the construction company’s stock valued at $90,080,000 after acquiring an additional 854,095 shares in the last quarter. Institutional investors and hedge funds own 84.95% of the company’s stock.

About PulteGroup

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

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Analyst Recommendations for PulteGroup (NYSE:PHM)

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