PulteGroup (NYSE:PHM) Price Target Cut to $140.00 by Analysts at Wells Fargo & Company

PulteGroup (NYSE:PHM - Get Free Report) had its target price cut by investment analysts at Wells Fargo & Company from $165.00 to $140.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the construction company's stock. Wells Fargo & Company's price target indicates a potential upside of 20.80% from the company's current price.

Several other research firms have also recently commented on PHM. Oppenheimer lowered their target price on PulteGroup from $168.00 to $165.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. BTIG Research lifted their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Bank of America increased their target price on shares of PulteGroup from $138.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Barclays restated an "equal weight" rating and set a $140.00 price target (down from $150.00) on shares of PulteGroup in a research report on Wednesday, December 11th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $115.00 price target on shares of PulteGroup in a research note on Tuesday, October 22nd. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $142.71.

PulteGroup Stock Down 0.8 %

Shares of NYSE:PHM traded down $0.93 during trading on Tuesday, hitting $115.89. The company's stock had a trading volume of 2,155,839 shares, compared to its average volume of 1,828,843. The stock's 50-day moving average price is $132.15 and its two-hundred day moving average price is $127.34. PulteGroup has a fifty-two week low of $99.03 and a fifty-two week high of $149.47. The company has a market capitalization of $23.77 billion, a PE ratio of 8.55, a PEG ratio of 0.48 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 (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business had revenue of $4.48 billion for the quarter, compared to analysts' expectations of $4.27 billion. During the same quarter last year, the company posted $2.90 earnings per share. The company's quarterly revenue was up 11.8% compared to the same quarter last year. As a group, sell-side analysts expect that PulteGroup will post 12.94 EPS for the current year.

Institutional Investors Weigh In On PulteGroup

Hedge funds and other institutional investors have recently bought and sold shares of the company. Grove Bank & Trust grew its stake in PulteGroup by 18.4% in the third quarter. Grove Bank & Trust now owns 463 shares of the construction company's stock valued at $66,000 after acquiring an additional 72 shares during the period. WR Wealth Planners LLC boosted its position in PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company's stock worth $26,000 after purchasing an additional 82 shares during the last quarter. Cromwell Holdings LLC grew its position in PulteGroup by 17.2% during the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company's stock valued at $81,000 after buying an additional 83 shares during the period. Concord Wealth Partners raised its holdings in shares of PulteGroup by 1.7% in the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company's stock worth $718,000 after purchasing an additional 83 shares during the period. Finally, Lebenthal Global Advisors LLC lifted its position in shares of PulteGroup by 3.9% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company's stock valued at $256,000 after buying an additional 87 shares during 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.