CalAtlantic Group, Inc. (NYSE:CAA) Upgraded at Barclays PLC
CalAtlantic Group, Inc. (NYSE:CAA) was upgraded by investment analysts at Barclays PLC from an “underweight” rating to an “equal weight” rating in a research report issued on Tuesday, July 11th, Marketbeat reports. The firm currently has a $35.00 price target on the construction company’s stock. Barclays PLC’s price target would suggest a potential downside of 0.99% from the company’s current price.
Other analysts have also issued reports about the stock. TheStreet upgraded shares of CalAtlantic Group from a “c+” rating to a “b-” rating in a research note on Tuesday, March 28th. ValuEngine downgraded CalAtlantic Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 23rd. Zacks Investment Research raised CalAtlantic Group from a “sell” rating to a “hold” rating in a research report on Friday, April 21st. BidaskClub raised CalAtlantic Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Finally, Raymond James Financial, Inc. downgraded CalAtlantic Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $40.10.
Shares of CalAtlantic Group (CAA) traded up 0.17% on Tuesday, reaching $35.35. 817,546 shares of the company’s stock traded hands. The company has a market cap of $3.90 billion, a PE ratio of 9.73 and a beta of 1.45. CalAtlantic Group has a 12-month low of $30.18 and a 12-month high of $38.63. The stock has a 50-day moving average price of $36.03 and a 200-day moving average price of $36.10.
CalAtlantic Group (NYSE:CAA) last issued its quarterly earnings results on Thursday, July 27th. The construction company reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by $0.03. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. CalAtlantic Group had a return on equity of 11.40% and a net margin of 7.26%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.83 earnings per share. Equities research analysts anticipate that CalAtlantic Group will post $3.47 EPS for the current fiscal year.
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In other CalAtlantic Group news, Director David J. Matlin sold 14,510,008 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $33.22, for a total value of $482,022,465.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Larry T. Nicholson sold 9,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $35.94, for a total value of $323,460.00. Following the completion of the transaction, the chief executive officer now owns 620,737 shares of the company’s stock, valued at approximately $22,309,287.78. The disclosure for this sale can be found here. Insiders sold 14,528,112 shares of company stock valued at $482,670,158 in the last quarter. 39.50% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System raised its stake in CalAtlantic Group by 3.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 45,097 shares of the construction company’s stock worth $1,534,000 after buying an additional 1,496 shares during the last quarter. Comerica Bank raised its stake in CalAtlantic Group by 3.6% in the fourth quarter. Comerica Bank now owns 54,490 shares of the construction company’s stock worth $1,839,000 after buying an additional 1,894 shares during the last quarter. GSA Capital Partners LLP bought a new stake in CalAtlantic Group during the fourth quarter worth approximately $258,000. Norges Bank bought a new stake in CalAtlantic Group during the fourth quarter worth approximately $24,535,000. Finally, Brookfield Asset Management Inc. bought a new stake in CalAtlantic Group during the fourth quarter worth approximately $3,194,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.
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.
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