CalAtlantic Group Inc (CAA) is Initiated by RBC Capital Mkts to Outperform, Price Target at $48

CalAtlantic Group Inc (CAA) was Initiated by RBC Capital Mkts to “Outperform” and the brokerage firm has set the Price Target at $48. RBC Capital Mkts advised their investors in a research report released on Jul 19, 2016.

Many Wall Street Analysts have commented on CalAtlantic Group Inc. MKM Partners Upgraded CalAtlantic Group Inc on Jul 11, 2016 to ” Buy”, Price Target of the shares are set at $47.Raymond James Upgraded CalAtlantic Group Inc on May 13, 2016 to ” Outperform”, Price Target of the shares are set at $39.Company shares were Reiterated by FBR Capital on May 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 37 from a previous price target of $32 .

On the company’s financial health, CalAtlantic Group Inc reported $0.60 EPS for the quarter, missing the analyst consensus estimate by $ -0.23 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.83. The company had revenue of $1179.00 million for the quarter, compared to analysts expectations of $1510.56 million. The company’s revenue was up 151.7% compared to the same quarter last year.

In a different news, on Feb 26, 2016, Larry T Nicholson (President & CEO) sold 78,342 shares at $29.00 per share price. According to the SEC, on Nov 23, 2015, Peter G Skelly (EVP & Chief Operating Officer) sold 13,587 shares at $41.33 per share price.

Calatlantic Group Inc. formerly Standard Pacific Corp. is a builder of single-family attached and detached homes. The Company operates in two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land and construct and sell single-family attached and detached homes. The homebuilding operating segments are grouped into three segments: California; Southwest consisting of its operating divisions in Arizona Texas Colorado and Nevada; and Southeast consisting of its operating divisions in Florida and the Carolinas. The Company’s Financial Services segment includes mortgage financing operation which provides mortgage financing to its homebuyers. The Company’s title services operation provides title examinations for its homebuyers in Texas and Florida.

CalAtlantic Group Inc

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