The Goldman Sachs Group Issues Pessimistic Forecast for PulteGroup (NYSE:PHM) Stock Price

PulteGroup (NYSE:PHM) had its price target reduced by research analysts at The Goldman Sachs Group from $140.00 to $124.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 7.11% from the company’s current price.

Several other research analysts have also recently commented on PHM. Barclays reiterated an “equal weight” rating and issued a $140.00 price target (down previously from $150.00) on shares of PulteGroup in a research note on Wednesday, December 11th. Wells Fargo & Company cut their target price on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Oppenheimer dropped their price target on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. BTIG Research increased their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, UBS Group raised shares of PulteGroup from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $154.00 to $148.00 in a report on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.21.

PulteGroup Stock Up 2.9 %

Shares of NYSE:PHM opened at $115.77 on Tuesday. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 0.48 and a beta of 1.67. The company has a 50 day moving average of $121.20 and a two-hundred day moving average of $126.93. PulteGroup has a 52-week low of $100.24 and a 52-week high of $149.47. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same period last year, the business earned $2.90 EPS. The business’s revenue was up 11.8% on a year-over-year basis. As a group, analysts forecast that PulteGroup will post 12.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHM. Aaron Wealth Advisors LLC increased its position in PulteGroup by 7.2% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,151 shares of the construction company’s stock worth $234,000 after buying an additional 145 shares during the period. Premier Path Wealth Partners LLC grew its position in shares of PulteGroup by 3.8% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock worth $280,000 after acquiring an additional 95 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of PulteGroup by 18.0% in the 4th quarter. Brooklyn Investment Group now owns 1,217 shares of the construction company’s stock worth $131,000 after acquiring an additional 186 shares during the period. Merit Financial Group LLC lifted its position in PulteGroup by 416.0% in the 4th quarter. Merit Financial Group LLC now owns 12,775 shares of the construction company’s stock valued at $1,391,000 after purchasing an additional 10,299 shares during the last quarter. Finally, Avanza Fonder AB acquired a new position in PulteGroup during the 4th quarter valued at about $2,502,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

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.