Shares of CalAtlantic Group Inc. (NYSE:CAA) have been assigned an average recommendation of “Buy” from the eighteen brokerages that are presently covering the firm. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $42.94.
A number of equities research analysts recently issued reports on the company. FBR & Co reaffirmed a “marketperform” rating on shares of CalAtlantic Group in a research note on Tuesday, September 27th. Wells Fargo & Co. started coverage on CalAtlantic Group in a research note on Wednesday, September 28th. They issued a “market perform” rating on the stock. Wedbush started coverage on CalAtlantic Group in a research note on Monday, September 19th. They set an “outperform” rating and a $44.00 price target on the stock. Bank of America Corp. raised CalAtlantic Group from an “underperform” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Friday, August 12th. Finally, Zacks Investment Research lowered CalAtlantic Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd.
CalAtlantic Group (NYSE:CAA) opened at 33.44 on Friday. The company has a 50-day moving average price of $35.35 and a 200-day moving average price of $35.56. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 13.25 and a beta of 1.49. CalAtlantic Group has a 12-month low of $26.97 and a 12-month high of $43.24.
CalAtlantic Group (NYSE:CAA) last posted its earnings results on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 had revenue of $1.56 billion for the quarter, compared to analyst estimates of $126.24 million. The business’s revenue was up 124.4% on a year-over-year basis. On average, equities research analysts forecast that CalAtlantic Group will post $3.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.16 annualized dividend and a yield of 0.48%. CalAtlantic Group’s dividend payout ratio is currently 6.40%.
In related news, CMO Wendy L. Marlett sold 18,000 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $34.51, for a total value of $621,180.00. Following the completion of the sale, the chief marketing officer now directly owns 54,396 shares in the company, valued at approximately $1,877,205.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 37.80% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in CAA. Bank of Montreal Can purchased a new position in CalAtlantic Group during the second quarter worth $113,000. Fifth Third Bancorp purchased a new position in CalAtlantic Group during the second quarter worth $166,000. LS Investment Advisors LLC boosted its position in CalAtlantic Group by 63.5% in the second quarter. LS Investment Advisors LLC now owns 4,564 shares of the company’s stock worth $168,000 after buying an additional 1,772 shares during the last quarter. Gray Financial Group GA ADV ADV purchased a new position in CalAtlantic Group during the second quarter worth $216,000. Finally, Tower Research Capital LLC TRC purchased a new position in CalAtlantic Group during the second quarter worth $220,000.
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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