PulteGroup (PHM) is Reiterated by RBC Capital Mkts to Outperform, Raises Price Target to $ 22

PulteGroup (PHM) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 22 from a previous price target of $21 . RBC Capital Mkts advised their investors in a research report released on Apr 22, 2016.

Many Wall Street Analysts have commented on PulteGroup. Company shares were Reiterated by FBR Capital on Apr 22, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 20 from a previous price target of $18 .Barclays Upgraded PulteGroup on Apr 6, 2016 to ” Equal Weight”, Price Target of the shares are set at $18.Shares were Downgraded by JP Morgan on Apr 5, 2016 to ” Neutral” and Lowered the Price Target to $ 18 from a previous price target of $21.50 .

On the company’s financial health, PulteGroup reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.20. The company had revenue of $1432.60 million for the quarter, compared to analysts expectations of $1349.50 million. The company’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.

PulteGroup closed down -0.05 points or -0.26% at $19.13 with 96,83,961 shares getting traded on Wednesday. Post opening the session at $19.13, the shares hit an intraday low of $18.825 and an intraday high of $19.5 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Feb 2, 2016, Bryce Blair (director) purchased 6,040 shares at $16.53 per share price. According to the SEC, on Aug 20, 2015, Richard J Jr Dugas (Pres. and Chief Exec. Officer) sold 125,000 shares at $22.01 per share price. On Aug 19, 2015, Ryan Marshall (Executive Vice President) sold 13,500 shares at $22.00 per share price, according to the Form-4 filing with the securities and exchange commission.

PulteGroup Inc. (PulteGroup) is a homebuilder operating in the United States. The Company’s subsidiaries engage in the homebuilding business. The Company also offers mortgage banking operations through Pulte Mortgage LLC (Pulte Mortgage) and title operations. It offers a variety of home designs including single-family detached townhouses condominiums and duplexes. It has delivered approximately 640000 homes. It operates in approximately 49 markets located throughout 26 states. The Company operates through its Homebuilding and Financial Services segments. The Company’s Homebuilding Operations include the acquisition and development of land for residential purposes within the United States and the construction of housing on such land. The Financial Services operations consist of mortgage banking and title operations.


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