CalAtlantic Group Inc (CAA) is Initiated by Wells Fargo to Market Perform

CalAtlantic Group Inc (CAA) was Initiated by Wells Fargo to “Market Perform”. Wells Fargo advised their investors in a research report released on Sep 29, 2016.

Many Wall Street Analysts have commented on CalAtlantic Group Inc. Wedbush Initiated CalAtlantic Group Inc on Sep 20, 2016 to “Outperform”, Price Target of the shares are set at $44.Shares were Reiterated by RBC Capital Mkts on Aug 1, 2016 to “Outperform” and Lowered the Price Target to $ 43 from a previous price target of $48 .Shares were Reiterated by MKM Partners on Aug 1, 2016 to “Buy” and Lowered the Price Target to $ 45 from a previous price target of $47 .

On the company’s financial health, CalAtlantic Group Inc reported $0.88 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $1.01. The company had revenue of $1558.70 million for the quarter, compared to analysts expectations of $1748.79 million. The company’s revenue was up 124.4% compared to the same quarter last year.

In a different news, on Sep 16, 2016, Wendy L Marlett (CMO & EVP Sales & Marketing) sold 18,000 shares at $34.51 per share price. According to the SEC, on Feb 26, 2016, Larry T Nicholson (President & CEO) sold 78,342 shares at $29.00 per share price. On Nov 23, 2015, Peter G Skelly (EVP & Chief Operating Officer) sold 13,587 shares at $41.33 per share price, according to the Form-4 filing with the securities and exchange commission.

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

Leave a Reply

CalAtlantic Group Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on CalAtlantic Group Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.