A number of other equities analysts have also recently issued reports on CAA. Zacks Investment Research cut CalAtlantic Group from a strong-buy rating to a hold rating in a report on Wednesday, July 27th. RBC Capital Markets restated an outperform rating and set a $43.00 target price (down previously from $48.00) on shares of CalAtlantic Group 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. Credit Suisse Group AG restated a buy rating on shares of CalAtlantic Group in a report on Tuesday, July 12th. Finally, JMP Securities restated a hold rating on shares of CalAtlantic Group in a report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $42.69.
Shares of CalAtlantic Group (NYSE:CAA) opened at 33.19 on Tuesday. CalAtlantic Group has a 12-month low of $26.97 and a 12-month high of $43.24. The firm has a market cap of $3.93 billion, a P/E ratio of 13.15 and a beta of 1.49. The firm’s 50-day moving average price is $35.42 and its 200 day moving average price is $35.55.
CalAtlantic Group (NYSE:CAA) last issued its earnings results 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 firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $126.24 million. The company’s revenue for the quarter was up 124.4% on a year-over-year basis. On average, equities analysts expect that CalAtlantic Group will post $3.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Tuesday, September 13th. CalAtlantic Group’s dividend payout ratio (DPR) is 6.40%.
In other CalAtlantic Group news, CMO Wendy L. Marlett sold 18,000 shares of the business’s 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 37.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sanders Capital LLC raised its position in CalAtlantic Group by 5.4% in the second quarter. Sanders Capital LLC now owns 3,493,615 shares of the company’s stock valued at $130,888,000 after buying an additional 178,427 shares during the period. Fisher Asset Management LLC raised its position in CalAtlantic Group by 1.8% in the second quarter. Fisher Asset Management LLC now owns 2,272,453 shares of the company’s stock valued at $91,216,000 after buying an additional 40,000 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in CalAtlantic Group by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,224,143 shares of the company’s stock valued at $74,331,000 after buying an additional 47,652 shares during the period. FMR LLC raised its position in CalAtlantic Group by 13.9% in the second quarter. FMR LLC now owns 1,925,063 shares of the company’s stock valued at $70,669,000 after buying an additional 234,907 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in CalAtlantic Group by 4.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,620,035 shares of the company’s stock valued at $59,472,000 after buying an additional 70,031 shares during the period.
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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