Credit Suisse analyst Adam Baumgarten assigned a Hold rating to PulteGroup (PHM) yesterday and set a price target of $36.00. The company’s shares closed last Thursday at $35.52.
According to TipRanks.com, Baumgarten is ranked #2028 out of 6650 analysts.
The word on The Street in general, suggests a Hold analyst consensus rating for PulteGroup with a $31.92 average price target, representing a -13.5% downside. In a report issued on May 15, KeyBanc also downgraded the stock to Hold.
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Based on PulteGroup’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.29 billion and net profit of $204 million. In comparison, last year the company earned revenue of $2 billion and had a net profit of $167 million.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PHM in relation to earlier this year.
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PulteGroup, Inc. engages in the homebuilding business. It is also involved in the mortgage banking, and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment comprises of operations from the Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Rhode Island, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington. The Financial Services segment consists of mortgage banking and title operations. The company was founded by William J. Pulte in 1950 and is headquartered in Atlanta, GA.