PulteGroup (NYSE:PHM) Upgraded by Wedbush to Outperform Rating

PulteGroup (NYSE:PHM - Get Free Report) was upgraded by investment analysts at Wedbush from a "neutral" rating to an "outperform" rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a $135.00 price target on the construction company's stock. Wedbush's price objective indicates a potential upside of 22.67% from the stock's previous close.

PHM has been the subject of a number of other research reports. StockNews.com downgraded PulteGroup from a "buy" rating to a "hold" rating in a research report on Wednesday, December 11th. BTIG Research upped their target price on PulteGroup from $139.00 to $156.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Evercore ISI decreased their price target on PulteGroup from $198.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. Barclays restated an "equal weight" rating and set a $140.00 price objective (down previously from $150.00) on shares of PulteGroup in a report on Wednesday, December 11th. Finally, Wells Fargo & Company decreased their target price on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $144.14.

PulteGroup Price Performance

NYSE PHM traded up $2.41 on Friday, reaching $110.05. 1,934,358 shares of the stock traded hands, compared to its average volume of 1,659,579. PulteGroup has a 12 month low of $99.68 and a 12 month high of $149.47. The company has a market cap of $22.57 billion, a price-to-earnings ratio of 8.12, a P/E/G ratio of 0.48 and a beta of 1.62. The firm's fifty day simple moving average is $124.17 and its 200 day simple moving average is $126.77. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14.

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

Institutional Investors Weigh In On PulteGroup

A number of large investors have recently bought and sold shares of the business. Logan Capital Management Inc. raised its stake in shares of PulteGroup by 67.7% in the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company's stock valued at $2,124,000 after acquiring an additional 5,976 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in PulteGroup by 38.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company's stock worth $17,410,000 after acquiring an additional 33,472 shares during the period. Trustmark National Bank Trust Department lifted its position in PulteGroup by 39.8% during the 3rd quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company's stock worth $5,682,000 after acquiring an additional 11,269 shares during the last quarter. New Millennium Group LLC boosted its holdings in PulteGroup by 10,625.8% during the third quarter. New Millennium Group LLC now owns 9,546 shares of the construction company's stock valued at $1,370,000 after acquiring an additional 9,457 shares during the period. Finally, Systematic Financial Management LP grew its position in shares of PulteGroup by 3.9% in the third quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company's stock valued at $18,696,000 after purchasing an additional 4,840 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

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.