PulteGroup Rating Reiterated by Zacks (PHM)

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PulteGroup (NYSE:PHM)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Friday, Analyst Ratings.Net reports. They currently have a $20.00 price target on the stock. Zacks‘s price objective indicates a potential upside of 5.32% from the stock’s previous close.

Zacks’ analyst wrote, “PulteGroup’s first-quarter earnings of $0.19 per share lagged the Zacks Consensus Estimate and also declined year over year figure, owing to weak top line. Revenues lagged the Zacks Consensus Estimate and were soft due to order shortfall and lower number of homes delivered. Pulte’s net orders remained weak due to rising interest rates, increasing home prices and a lower community count. Pulte is facing supply constraints in many markets, in turn, lowering its community count. However, margins were strong due to improved pricing and better mix of sales (particularly of higher margin move-up homes and commonly managed plans).Though management remains optimistic for better volumes in the spring selling season, we prefer to remain on the sidelines until we see the actual numbers. Therefore, we maintain Neutral recommendation on the stock.”

A number of other firms have also recently commented on PHM. Analysts at Barclays downgraded shares of PulteGroup from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, March 25th. They now have a $20.00 price target on the stock, down previously from $21.00. They noted that the move was a valuation call. Separately, analysts at Credit Suisse downgraded shares of PulteGroup from an “outperform” rating to a “neutral” rating in a research note on Wednesday, March 12th. They now have a $20.00 price target on the stock. Finally, analysts at UBS AG raised their price target on shares of PulteGroup from $2.00 to $25.00 in a research note on Monday, March 10th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $21.50.

PulteGroup (NYSE:PHM) traded down 3.11% on Friday, hitting $18.40. The stock had a trading volume of 4,788,425 shares. PulteGroup has a one year low of $14.23 and a one year high of $24.47. The stock has a 50-day moving average of $19.2 and a 200-day moving average of $18.81. The company has a market cap of $7.016 billion and a price-to-earnings ratio of 2.82.

PulteGroup (NYSE:PHM) last released its earnings data on Thursday, April 24th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.01. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. Analysts expect that PulteGroup will post $1.18 EPS for the current fiscal year.

PulteGroup, Inc (NYSE:PHM) is a homebuilder in the United States.

To view Zacks’ full report, visit Zacks’ official website.

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