Analysts Set CalAtlantic Group Inc. (NYSE:CAA) PT at $42.94
CalAtlantic Group Inc. (NYSE:CAA) has earned a consensus recommendation of “Buy” from the eighteen analysts that are covering the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $42.94.
CAA has been the subject of several research reports. FBR & Co restated a “marketperform” rating on shares of CalAtlantic Group in a research report on Tuesday, September 27th. TheStreet downgraded shares of CalAtlantic Group from a “buy” rating to a “hold” rating in a research report on Monday. Zacks Investment Research upgraded shares of CalAtlantic Group from a “sell” rating to a “strong-buy” rating and set a $46.00 price objective for the company in a research report on Wednesday, July 13th. RBC Capital Markets restated an “outperform” rating and set a $43.00 price objective (down from $48.00) on shares of CalAtlantic Group in a research report on Monday, August 1st. Finally, Credit Suisse Group AG restated a “buy” rating on shares of CalAtlantic Group in a research report on Tuesday, July 12th.
Shares of CalAtlantic Group (NYSE:CAA) opened at 32.73 on Friday. CalAtlantic Group has a 1-year low of $26.97 and a 1-year high of $43.24. The firm has a market cap of $3.88 billion, a PE ratio of 12.97 and a beta of 1.59. The company has a 50-day moving average of $35.17 and a 200-day moving average of $35.63.
CalAtlantic Group (NYSE:CAA) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.58. CalAtlantic Group had a return on equity of 11.24% and a net margin of 5.86%. The business earned $1.56 billion during the quarter, compared to analysts’ expectations of $126.24 million. The business’s revenue was up 124.4% compared to the same quarter last year. Analysts predict that CalAtlantic Group will post $3.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a $0.04 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.16 dividend on an annualized basis and a yield of 0.49%. CalAtlantic Group’s dividend payout ratio (DPR) is 6.40%.
In related news, CMO Wendy L. Marlett sold 18,000 shares of CalAtlantic Group stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $34.51, for a total value of $621,180.00. Following the transaction, the chief marketing officer now directly owns 54,396 shares of the company’s stock, valued at $1,877,205.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 37.80% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CAA. BlackRock Inc. boosted its position in shares of CalAtlantic Group by 9.5% in the first quarter. BlackRock Inc. now owns 29,495 shares of the company’s stock worth $985,000 after buying an additional 2,561 shares during the period. Renaissance Technologies LLC bought a new stake in CalAtlantic Group during the first quarter worth $17,731,000. Seven Eight Capital LLC bought a new stake in CalAtlantic Group during the first quarter worth $569,000. IBM Retirement Fund bought a new stake in CalAtlantic Group during the second quarter worth $277,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in CalAtlantic Group during the first quarter worth $2,910,000.
About CalAtlantic Group
CalAtlantic Group, Inc, formerly Standard Pacific Corp., is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.
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