Investment analysts at Wedbush began coverage on shares of CalAtlantic Group Inc. (NYSE:CAA) in a report issued on Monday. The brokerage set an “outperform” rating and a $44.00 price target on the stock. Wedbush’s target price points to a potential upside of 31.89% from the company’s current price.
Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded CalAtlantic Group from a “hold” rating to a “sell” rating in a research report on Monday, July 11th. RBC Capital Markets reiterated an “outperform” rating and set a $43.00 target price (down from $48.00) on shares of CalAtlantic Group in a research report on Monday, August 1st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of CalAtlantic Group in a research report on Friday, June 10th. JMP Securities reiterated a “hold” rating on shares of CalAtlantic Group in a research report on Wednesday, June 29th. Finally, TheStreet upgraded CalAtlantic Group from a “hold” rating to a “buy” rating in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $42.69.
CalAtlantic Group (NYSE:CAA) opened at 33.36 on Monday. The company has a 50-day moving average of $35.87 and a 200-day moving average of $35.47. The company has a market cap of $3.95 billion, a PE ratio of 13.22 and a beta of 1.49. CalAtlantic Group has a 52 week low of $26.97 and a 52 week high of $43.45.
CalAtlantic Group (NYSE:CAA) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.58. The company earned $1.56 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. On average, equities analysts expect that CalAtlantic Group will post $3.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.16 annualized dividend and a yield of 0.48%. CalAtlantic Group’s dividend payout ratio (DPR) is presently 6.40%.
In other CalAtlantic Group news, CMO Wendy L. Marlett sold 18,000 shares of CalAtlantic Group stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $34.51, for a total value of $621,180.00. Following the transaction, the chief marketing officer now owns 54,396 shares in the company, valued at $1,877,205.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 37.80% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can acquired a new stake in shares of CalAtlantic Group during the second quarter worth $113,000. Fifth Third Bancorp acquired a new stake in shares of CalAtlantic Group during the second quarter worth $166,000. LS Investment Advisors LLC raised its stake in shares of 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 acquired a new stake in shares of CalAtlantic Group during the second quarter worth $216,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of CalAtlantic Group during the second quarter worth $220,000.
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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