BTIG Research Increases PulteGroup (NYSE:PHM) Price Target to $139.00

PulteGroup (NYSE:PHM) had its price objective lifted by stock analysts at BTIG Research from $133.00 to $139.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. BTIG Research’s price objective suggests a potential upside of 11.20% from the stock’s previous close.

Several other analysts have also recently issued reports on PHM. Citigroup cut their target price on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Barclays cut their target price on PulteGroup from $136.00 to $131.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Evercore ISI increased their price target on PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. StockNews.com raised PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, Bank of America increased their price target on PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and an average target price of $129.93.

PulteGroup Stock Performance

Shares of PHM opened at $125.00 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $114.10 and a two-hundred day simple moving average of $111.32. The stock has a market cap of $25.94 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.52 and a beta of 1.61. PulteGroup has a 52 week low of $68.80 and a 52 week high of $129.85.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.00 earnings per share. On average, analysts expect that PulteGroup will post 12.68 EPS for the current year.

Institutional Investors Weigh In On PulteGroup

Several hedge funds and other institutional investors have recently modified their holdings of the business. Putnam Investments LLC increased its holdings in PulteGroup by 1.8% during the 4th quarter. Putnam Investments LLC now owns 11,008,695 shares of the construction company’s stock worth $1,136,318,000 after purchasing an additional 197,656 shares during the period. Norges Bank purchased a new position in PulteGroup during the 4th quarter worth $381,960,000. Allianz Asset Management GmbH increased its holdings in PulteGroup by 38.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock worth $195,316,000 after purchasing an additional 523,623 shares during the period. Los Angeles Capital Management LLC increased its holdings in PulteGroup by 0.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 1,434,016 shares of the construction company’s stock worth $172,971,000 after purchasing an additional 7,397 shares during the period. Finally, Captrust Financial Advisors increased its holdings in PulteGroup by 18.4% during the 1st quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock worth $130,986,000 after purchasing an additional 168,746 shares during the period. 89.90% of the stock is currently owned by hedge funds and other 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.