CalAtlantic Group, Inc. (CAA) Earns “Ourperform” Rating from Wedbush

CalAtlantic Group, Inc. (NYSE:CAA)‘s stock had its “ourperform” rating reaffirmed by stock analysts at Wedbush in a research note issued on Monday, July 31st. They currently have a $41.00 price objective on the construction company’s stock. Wedbush’s price objective suggests a potential upside of 19.67% from the stock’s current price. Wedbush also issued estimates for CalAtlantic Group’s Q3 2017 earnings at $0.86 EPS, Q4 2017 earnings at $1.27 EPS, FY2017 earnings at $3.47 EPS, Q1 2018 earnings at $0.69 EPS, Q2 2018 earnings at $0.94 EPS, Q3 2018 earnings at $1.08 EPS, Q4 2018 earnings at $1.37 EPS and FY2018 earnings at $4.08 EPS.

A number of other equities analysts also recently commented on the stock. JMP Securities raised shares of CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Friday, July 21st. Barclays PLC raised shares of CalAtlantic Group from an “underweight” rating to an “equal weight” rating and set a $35.00 price objective for the company in a research note on Tuesday, July 11th. BidaskClub raised shares of CalAtlantic Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Credit Suisse Group began coverage on shares of CalAtlantic Group in a research note on Thursday, June 22nd. They issued an “underperform” rating and a $32.00 price objective for the company. Finally, Bank of America Corporation downgraded shares of CalAtlantic Group from a “buy” rating to a “neutral” rating in a research note on Thursday, June 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. CalAtlantic Group currently has a consensus rating of “Hold” and an average price target of $39.89.

CalAtlantic Group (NYSE:CAA) opened at 34.26 on Monday. The stock has a 50 day moving average price of $36.14 and a 200 day moving average price of $36.13. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 9.43 and a beta of 1.45. CalAtlantic Group has a 12 month low of $30.18 and a 12 month high of $38.63.

CalAtlantic Group (NYSE:CAA) last issued its quarterly earnings data on Thursday, July 27th. The construction company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by $0.03. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. CalAtlantic Group had a return on equity of 11.40% and a net margin of 7.26%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.83 EPS. Analysts anticipate that CalAtlantic Group will post $3.47 earnings per share for the current fiscal year.

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In other news, CEO Larry T. Nicholson sold 9,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $35.94, for a total transaction of $323,460.00. Following the transaction, the chief executive officer now directly owns 620,737 shares of the company’s stock, valued at $22,309,287.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Larry T. Nicholson sold 9,004 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $35.61, for a total value of $320,632.44. Following the transaction, the chief executive officer now directly owns 611,733 shares in the company, valued at $21,783,812.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,528,112 shares of company stock worth $482,670,158. Insiders own 39.50% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of CalAtlantic Group by 3.8% in the second quarter. FMR LLC now owns 10,812,739 shares of the construction company’s stock worth $382,230,000 after buying an additional 400,103 shares during the period. BlackRock Inc. raised its stake in shares of CalAtlantic Group by 4.0% in the second quarter. BlackRock Inc. now owns 7,319,210 shares of the construction company’s stock worth $258,732,000 after buying an additional 283,517 shares during the period. Vanguard Group Inc. raised its stake in shares of CalAtlantic Group by 3.7% in the second quarter. Vanguard Group Inc. now owns 6,099,512 shares of the construction company’s stock worth $215,618,000 after buying an additional 215,325 shares during the period. Sanders Capital LLC raised its stake in shares of CalAtlantic Group by 3.8% in the second quarter. Sanders Capital LLC now owns 4,167,200 shares of the construction company’s stock worth $161,972,000 after buying an additional 153,652 shares during the period. Finally, Hexavest Inc. raised its stake in shares of CalAtlantic Group by 4.6% in the first quarter. Hexavest Inc. now owns 3,371,288 shares of the construction company’s stock worth $126,255,000 after buying an additional 146,951 shares during the period. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for CalAtlantic Group (NYSE:CAA)

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