CalAtlantic Group, Inc. (CAA) Downgraded by JMP Securities to “Market Perform”
CalAtlantic Group, Inc. (NYSE:CAA) was downgraded by research analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a report issued on Monday.
Several other equities analysts also recently weighed in on the stock. Mizuho started coverage on shares of CalAtlantic Group in a report on Thursday. They set a “buy” rating and a $45.00 price target for the company. UBS AG started coverage on shares of CalAtlantic Group in a report on Wednesday, October 25th. They set a “neutral” rating and a $42.00 price target for the company. ValuEngine upgraded shares of CalAtlantic Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. KeyCorp reiterated a “hold” rating on shares of CalAtlantic Group in a report on Friday, August 25th. Finally, Wedbush reiterated an “ourperform” rating and set a $41.00 price target on shares of CalAtlantic Group in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. CalAtlantic Group has an average rating of “Hold” and an average price target of $40.70.
CalAtlantic Group (NYSE CAA) traded up 21.31% during mid-day trading on Monday, reaching $49.07. The company’s stock had a trading volume of 18,223,554 shares. CalAtlantic Group has a one year low of $30.20 and a one year high of $50.48. The stock has a market cap of $5.41 billion, a P/E ratio of 13.50 and a beta of 1.42. The firm’s 50 day moving average is $37.10 and its 200-day moving average is $36.25.
CalAtlantic Group (NYSE:CAA) last announced 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 company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.61 billion. CalAtlantic Group had a net margin of 7.26% and a return on equity of 11.40%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS. Equities analysts expect that CalAtlantic Group will post $3.45 earnings per share for the current fiscal year.
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In other news, CEO Larry T. Nicholson sold 17,033 shares of CalAtlantic Group stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $36.00, for a total transaction of $613,188.00. Following the sale, the chief executive officer now owns 594,600 shares in the company, valued at $21,405,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 39.50% of the company’s stock.
Large investors have recently modified their holdings of the stock. Denali Advisors LLC bought a new stake in CalAtlantic Group during the third quarter valued at $769,000. Greenhaven Associates Inc. increased its stake in CalAtlantic Group by 19.2% during the second quarter. Greenhaven Associates Inc. now owns 3,049,843 shares of the construction company’s stock valued at $107,812,000 after purchasing an additional 491,510 shares during the last quarter. Arizona State Retirement System increased its stake in CalAtlantic Group by 1.3% during the second quarter. Arizona State Retirement System now owns 30,400 shares of the construction company’s stock valued at $1,075,000 after purchasing an additional 400 shares during the last quarter. BlueMountain Capital Management LLC increased its stake in CalAtlantic Group by 412.2% during the second quarter. BlueMountain Capital Management LLC now owns 95,767 shares of the construction company’s stock valued at $3,385,000 after purchasing an additional 77,068 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in CalAtlantic Group by 5.1% during the first quarter. Prudential Financial Inc. now owns 45,137 shares of the construction company’s stock valued at $1,690,000 after purchasing an additional 2,210 shares during the last quarter.
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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