According to Zacks, “CalAtlantic Group, Inc. operates as a homebuilder. The company offers crafted homes. It also provides mortgage financing services to its homebuyers; and title examination services. Calatlantic Group Inc., formerly known as Standard Pacific Corp., is headquartered in Irvine, California. “
A number of other equities research analysts also recently weighed in on the company. RBC Capital Markets reiterated an outperform rating and issued a $43.00 target price (down from $48.00) on shares of CalAtlantic Group in a report on Monday, August 1st. FBR & Co downgraded CalAtlantic Group from an outperform rating to a marketperform rating in a report on Monday, August 1st. TheStreet upgraded CalAtlantic Group from a hold rating to a buy rating in a report on Friday, July 29th. JMP Securities reiterated a hold rating on shares of CalAtlantic Group in a report on Wednesday, June 29th. Finally, Royal Bank Of Canada assumed coverage on CalAtlantic Group in a report on Tuesday, July 19th. They issued an outperform rating and a $48.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. CalAtlantic Group currently has an average rating of Buy and a consensus price target of $42.69.
Shares of CalAtlantic Group (NYSE:CAA) opened at 32.32 on Tuesday. The company has a market cap of $3.83 billion, a PE ratio of 12.81 and a beta of 1.59. The stock’s 50 day moving average price is $34.54 and its 200-day moving average price is $35.61. CalAtlantic Group has a 52 week low of $26.97 and a 52 week high of $43.24.
CalAtlantic Group (NYSE:CAA) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.58. CalAtlantic Group had a return on equity of 11.24% and a net margin of 5.86%. The company earned $1.56 billion during the quarter, compared to the consensus estimate of $126.24 million. The firm’s revenue for the quarter was up 124.4% compared to the same quarter last year. Analysts expect that CalAtlantic Group will post $3.47 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.16 annualized dividend and a dividend yield of 0.50%. CalAtlantic Group’s payout ratio is 6.40%.
In related news, CMO Wendy L. Marlett sold 18,000 shares of CalAtlantic Group stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $34.51, for a total transaction of $621,180.00. Following the transaction, the chief marketing officer now owns 54,396 shares of the company’s stock, valued at $1,877,205.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 37.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Anchor Bolt Capital LP bought a new position in shares of CalAtlantic Group during the first quarter valued at about $7,482,000. Jacobs Levy Equity Management Inc. bought a new position in shares of CalAtlantic Group during the first quarter valued at about $1,737,000. AMP Capital Investors Ltd bought a new position in shares of CalAtlantic Group during the first quarter valued at about $390,000. Nuveen Asset Management LLC boosted its position in shares of CalAtlantic Group by 20.0% in the first quarter. Nuveen Asset Management LLC now owns 103,254 shares of the company’s stock valued at $3,451,000 after buying an additional 17,193 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of CalAtlantic Group during the first quarter valued at about $17,731,000.
CalAtlantic Group Company Profile
CalAtlantic Group, Inc, formerly Standard Pacific Corp., is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.
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