CalAtlantic Group, Inc. (NYSE:CAA) has been given an average rating of “Hold” by the eighteen ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $40.22.
Several research analysts have issued reports on the stock. Mizuho assumed coverage on shares of CalAtlantic Group in a report on Thursday. They set a “buy” rating and a $45.00 target price on the stock. UBS AG assumed coverage on shares of CalAtlantic Group in a report on Wednesday. They set a “neutral” rating and a $42.00 target price on the stock. Barclays PLC upgraded shares of CalAtlantic Group from an “underweight” rating to an “equal weight” rating and set a $35.00 target price on the stock in a report on Tuesday, July 11th. Wedbush reiterated an “ourperform” rating and set a $41.00 target price on shares of CalAtlantic Group in a report on Monday, July 31st. Finally, ValuEngine upgraded shares of CalAtlantic Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd.
CalAtlantic Group (NYSE CAA) traded up 1.18% during midday trading on Friday, hitting $40.45. 1,068,276 shares of the stock traded hands. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 11.13 and a beta of 1.42. The firm’s 50-day moving average is $37.10 and its 200-day moving average is $36.25. CalAtlantic Group has a 52-week low of $30.20 and a 52-week high of $40.60.
CalAtlantic Group (NYSE:CAA) last issued its earnings results on Thursday, July 27th. The construction company reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.03). CalAtlantic Group had a return on equity of 11.40% and a net margin of 7.26%. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. Analysts predict that CalAtlantic Group will post $3.45 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Saturday, September 30th. Shareholders of record on Friday, September 15th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Thursday, September 14th. CalAtlantic Group’s payout ratio is 4.46%.
In other CalAtlantic Group news, CEO Larry T. Nicholson sold 17,033 shares of the stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $36.00, for a total transaction of $613,188.00. Following the completion of the sale, the chief executive officer now directly owns 594,600 shares of the company’s stock, valued at $21,405,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 39.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Denali Advisors LLC purchased a new stake in shares of CalAtlantic Group during the third quarter valued at about $769,000. Greenhaven Associates Inc. lifted its position in shares of CalAtlantic Group by 19.2% during the second quarter. Greenhaven Associates Inc. now owns 3,049,843 shares of the construction company’s stock valued at $107,812,000 after buying an additional 491,510 shares during the last quarter. Arizona State Retirement System lifted its position in shares of CalAtlantic Group by 1.3% during the second quarter. Arizona State Retirement System now owns 30,400 shares of the construction company’s stock valued at $1,075,000 after buying an additional 400 shares during the last quarter. BlueMountain Capital Management LLC lifted its position in shares of CalAtlantic Group by 412.2% during the second quarter. BlueMountain Capital Management LLC now owns 95,767 shares of the construction company’s stock valued at $3,385,000 after buying an additional 77,068 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of CalAtlantic Group by 5.1% during the first quarter. Prudential Financial Inc. now owns 45,137 shares of the construction company’s stock valued at $1,690,000 after buying an additional 2,210 shares during the last quarter.
About CalAtlantic Group
CalAtlantic Group, Inc is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.
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