CalAtlantic Group Inc. (CAA) Downgraded by TheStreet
CalAtlantic Group Inc. (NYSE:CAA) was downgraded by stock analysts at TheStreet from a “buy” rating to a “hold” rating in a report released on Monday.
Several other equities research analysts also recently weighed in on CAA. FBR & Co restated a “marketperform” rating on shares of CalAtlantic Group in a report on Tuesday, September 27th. Zacks Investment Research downgraded CalAtlantic Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 27th. RBC Capital Markets restated an “outperform” rating and set a $43.00 price target (down previously from $48.00) on shares of CalAtlantic Group in a report on Monday, August 1st. Credit Suisse Group AG restated a “buy” rating on shares of CalAtlantic Group in a report on Tuesday, July 12th. Finally, JMP Securities reiterated a “hold” rating on shares of CalAtlantic Group in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. CalAtlantic Group currently has a consensus rating of “Buy” and an average target price of $42.69.
CalAtlantic Group (NYSE:CAA) traded down 1.09% on Monday, reaching $32.73. The company’s stock had a trading volume of 1,173,538 shares. CalAtlantic Group has a 12-month low of $26.97 and a 12-month high of $43.24. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 12.97 and a beta of 1.59. The firm has a 50-day moving average of $35.17 and a 200 day moving average of $35.63.
CalAtlantic Group (NYSE:CAA) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.58. CalAtlantic Group had a return on equity of 11.24% and a net margin of 5.86%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $126.24 million. The company’s revenue for the quarter was up 124.4% on a year-over-year basis. On average, equities research analysts anticipate that CalAtlantic Group will post $3.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a dividend of $0.04 per share. 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 payout ratio is 6.40%.
In other CalAtlantic Group news, CMO Wendy L. Marlett sold 18,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $34.51, for a total transaction of $621,180.00. Following the completion of the sale, the chief marketing officer now directly owns 54,396 shares of the company’s stock, valued at approximately $1,877,205.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 37.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Bank of Montreal Can bought a new stake in CalAtlantic Group during the second quarter worth $113,000. Fifth Third Bancorp bought a new stake in CalAtlantic Group during the second quarter worth $166,000. LS Investment Advisors LLC boosted its stake in CalAtlantic Group by 63.5% in the second quarter. LS Investment Advisors LLC now owns 4,564 shares of the company’s stock worth $168,000 after buying an additional 1,772 shares during the last quarter. Gray Financial Group GA ADV ADV bought a new stake in CalAtlantic Group during the second quarter worth $216,000. Finally, Tower Research Capital LLC TRC bought a new stake in CalAtlantic Group during the second quarter worth $220,000.
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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