CAA has been the subject of several other reports. Janney Montgomery Scott upgraded CalAtlantic Group to a neutral rating in a research note on Monday, June 20th. Credit Suisse Group AG restated a buy rating on shares of CalAtlantic Group in a research note on Tuesday, July 12th. MKM Partners upgraded CalAtlantic Group from a neutral rating to a buy rating and upped their price target for the stock from $38.00 to $47.00 in a research note on Monday, July 11th. Bank of America Corp. raised CalAtlantic Group from an underperform rating to a buy rating and set a $42.00 target price for the company in a research report on Friday, August 12th. Finally, FBR & Co reaffirmed a marketperform rating on shares of CalAtlantic Group in a research report on Tuesday, September 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $42.69.
CalAtlantic Group (NYSE:CAA) traded down 1.09% on Monday, reaching $32.73. The company’s stock had a trading volume of 1,173,538 shares. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 12.97 and a beta of 1.59. CalAtlantic Group has a 52 week low of $26.97 and a 52 week high of $43.24. The firm’s 50 day moving average price is $35.17 and its 200-day moving average price is $35.63.
CalAtlantic Group (NYSE:CAA) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.58. The company earned $1.56 billion during the quarter, compared to analyst estimates of $126.24 million. CalAtlantic Group had a return on equity of 11.24% and a net margin of 5.86%. CalAtlantic Group’s quarterly revenue was up 124.4% compared to the same quarter last year. On average, equities analysts predict that CalAtlantic Group will post $3.47 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Tuesday, September 13th. CalAtlantic Group’s dividend payout ratio is presently 6.40%.
In other CalAtlantic Group news, CMO Wendy L. Marlett sold 18,000 shares of the 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 approximately $1,877,205.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 37.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. purchased a new position in CalAtlantic Group during the first quarter worth approximately $2,910,000. Ngam Advisors L.P. increased its position in CalAtlantic Group by 26.3% in the first quarter. Ngam Advisors L.P. now owns 159,082 shares of the company’s stock worth $5,316,000 after buying an additional 33,131 shares in the last quarter. Teachers Advisors Inc. increased its position in CalAtlantic Group by 2.4% in the first quarter. Teachers Advisors Inc. now owns 119,436 shares of the company’s stock worth $3,992,000 after buying an additional 2,818 shares in the last quarter. Prudential Financial Inc. increased its position in CalAtlantic Group by 509.1% in the first quarter. Prudential Financial Inc. now owns 301,227 shares of the company’s stock worth $10,067,000 after buying an additional 251,776 shares in the last quarter. Finally, BlackRock Inc. increased its position in CalAtlantic Group by 9.5% in the first quarter. BlackRock Inc. now owns 29,495 shares of the company’s stock worth $985,000 after buying an additional 2,561 shares in the last quarter.
About CalAtlantic Group
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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