Wells Fargo & Co. assumed coverage on shares of CalAtlantic Group Inc. (NYSE:CAA) in a report released on Wednesday, The Fly reports. The brokerage set a “market perform” rating on the stock.
A number of other equities research analysts have also commented on the company. Wedbush assumed coverage on CalAtlantic Group in a research report on Monday, September 19th. They set an “outperform” rating and a $44.00 price objective for the company. Bank of America Corp. raised CalAtlantic Group from an “underperform” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Friday, August 12th. Zacks Investment Research downgraded CalAtlantic Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. TheStreet raised CalAtlantic Group from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Finally, FBR & Co downgraded CalAtlantic Group from an “outperform” rating to a “marketperform” rating in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $42.69.
CalAtlantic Group (NYSE:CAA) traded up 0.15% during trading on Wednesday, hitting $34.19. The stock had a trading volume of 1,164,422 shares. CalAtlantic Group has a 52 week low of $26.97 and a 52 week high of $43.24. The firm has a market cap of $4.05 billion, a PE ratio of 13.55 and a beta of 1.49. The company’s 50-day moving average is $35.54 and its 200 day moving average is $35.58.
CalAtlantic Group (NYSE:CAA) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.88 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 firm earned $1.56 billion during the quarter, compared to analyst estimates of $126.24 million. The firm’s revenue was up 124.4% compared to the same quarter last year. Equities analysts expect that CalAtlantic Group will post $3.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Tuesday, September 13th. CalAtlantic Group’s payout ratio is presently 6.40%.
In other 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 sale, the chief marketing officer now owns 54,396 shares of the company’s stock, valued at approximately $1,877,205.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 37.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. AMP Capital Investors Ltd purchased a new stake in shares of CalAtlantic Group during the first quarter valued at $390,000. Nuveen Asset Management LLC raised its stake 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. Renaissance Technologies LLC purchased a new stake in shares of CalAtlantic Group during the first quarter valued at $17,731,000. Geode Capital Management LLC raised its stake in shares of CalAtlantic Group by 3.6% in the first quarter. Geode Capital Management LLC now owns 500,443 shares of the company’s stock valued at $16,724,000 after buying an additional 17,476 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. purchased a new stake in shares of CalAtlantic Group during the first quarter valued at $585,000.
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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