PulteGroup (PHM) is Upgraded by Deutsche Bank to Buy, Raises Price Target to $ 27

PulteGroup (PHM) was Upgraded by Deutsche Bank to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 27 from a previous price target of $20 . Earlier the firm had a rating of “Hold ” on the company shares. Deutsche Bank advised their investors in a research report released on Jul 25, 2016.

Many Wall Street Analysts have commented on PulteGroup. Company shares were Reiterated by FBR Capital on Jul 22, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 24 from a previous price target of $20 .PulteGroup was Upgraded by JP Morgan to ” Overweight” on Jul 22, 2016. Company shares were Reiterated by RBC Capital Mkts on Jul 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 26 from a previous price target of $23 .

On the company’s financial health, PulteGroup reported $0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.32. The company had revenue of $1799.90 million for the quarter, compared to analysts expectations of $1662.71 million. The company’s revenue was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

PulteGroup opened for trading at $20.39 and hit $20.51 on the upside on Wednesday, eventually ending the session at $20.42, with a gain of 0.25% or 0.05 points. The heightened volatility saw the trading volume jump to 43,33,421 shares. Company has a market cap of $7,066 M.

In a different news, on Jul 11, 2016, James L Ossowski (VP Finance & Controller) sold 10,000 shares at $20.00 per share price. According to the SEC, on Jul 8, 2016, James R Ellinghausen (Exec. Vice President-HR) sold 100,000 shares at $20.25 per share price. On May 4, 2016, Bryce Blair (director) purchased 5,479 shares at $18.18 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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