Raymond James Reaffirms Their Buy Rating on PulteGroup (PHM)

In a report released today, Buck Horne from Raymond James reiterated a Buy rating on PulteGroup (PHM), with a price target of $80.00. The company’s shares closed last Thursday at $59.81.

According to TipRanks.com, Horne is a 4-star analyst with an average return of 10.6% and a 66.1% success rate. Horne covers the Financial sector, focusing on stocks such as Mid-America Apartment, NexPoint Residential, and Equity Residential.

Currently, the analyst consensus on PulteGroup is a Moderate Buy with an average price target of $70.75, which is a 19.7% upside from current levels. In a report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $65.00 price target.

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Based on PulteGroup’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.19 billion and net profit of $438 million. In comparison, last year the company earned revenue of $3.02 billion and had a net profit of $336 million.

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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.

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