Mizuho Reiterates “$64.00” Price Target for CalAtlantic Group (CAA)

Mizuho set a $64.00 price objective on CalAtlantic Group (NYSE:CAA) in a research note issued to investors on Thursday. The brokerage currently has a hold rating on the industrial goods maker’s stock.

Several other equities research analysts have also commented on CAA. ValuEngine raised shares of CalAtlantic Group from a hold rating to a buy rating in a research report on Monday, October 2nd. UBS Group assumed coverage on shares of CalAtlantic Group in a research report on Wednesday, October 25th. They set a neutral rating and a $42.00 price target for the company. JMP Securities lowered shares of CalAtlantic Group from an outperform rating to a market perform rating in a research report on Monday, October 30th. Wedbush lowered shares of CalAtlantic Group from an outperform rating to a neutral rating and upped their price target for the company from $41.00 to $51.00 in a research report on Tuesday, October 31st. Finally, MKM Partners lowered shares of CalAtlantic Group from a buy rating to a neutral rating in a research report on Tuesday, October 31st. Fifteen equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. CalAtlantic Group currently has a consensus rating of Hold and an average target price of $50.50.

CalAtlantic Group (NYSE CAA) opened at $64.35 on Thursday. CalAtlantic Group has a 52-week low of $32.47 and a 52-week high of $64.40. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.91 and a quick ratio of 0.29. The firm has a market capitalization of $7,476.89, a PE ratio of 19.04, a price-to-earnings-growth ratio of 1.77 and a beta of 1.59.

CalAtlantic Group (NYSE:CAA) last issued its earnings results on Wednesday, November 8th. The industrial goods maker reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.07). CalAtlantic Group had a return on equity of 10.35% and a net margin of 6.85%. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the firm posted $0.97 EPS. CalAtlantic Group’s quarterly revenue was down 9.0% compared to the same quarter last year. equities analysts forecast that CalAtlantic Group will post 3.41 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, December 30th. Investors of record on Friday, December 15th were paid a dividend of $0.04 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.25%. CalAtlantic Group’s dividend payout ratio (DPR) is presently 4.75%.

In related news, CEO Larry T. Nicholson sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $51.94, for a total transaction of $5,194,000.00. Following the completion of the transaction, the chief executive officer now directly owns 714,691 shares in the company, valued at approximately $37,121,050.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William L. Jews sold 7,482 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $51.52, for a total value of $385,472.64. Following the transaction, the director now owns 41,717 shares of the company’s stock, valued at $2,149,259.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 283,206 shares of company stock valued at $14,970,977. 39.50% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in CAA. FMR LLC boosted its stake in CalAtlantic Group by 3.8% in the 2nd quarter. FMR LLC now owns 10,812,739 shares of the industrial goods maker’s stock worth $382,230,000 after purchasing an additional 400,103 shares during the period. BlackRock Inc. boosted its stake in CalAtlantic Group by 4.0% in the 2nd quarter. BlackRock Inc. now owns 7,319,210 shares of the industrial goods maker’s stock worth $258,732,000 after purchasing an additional 283,517 shares during the period. Vanguard Group Inc. boosted its stake in CalAtlantic Group by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 6,099,512 shares of the industrial goods maker’s stock worth $215,618,000 after purchasing an additional 215,325 shares during the period. Sanders Capital LLC boosted its stake in CalAtlantic Group by 5.1% in the 3rd quarter. Sanders Capital LLC now owns 4,380,539 shares of the industrial goods maker’s stock worth $175,352,000 after purchasing an additional 213,339 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in CalAtlantic Group by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,330,522 shares of the industrial goods maker’s stock worth $121,995,000 after purchasing an additional 69,164 shares during the period. Institutional investors own 98.42% of the company’s stock.

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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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