CalAtlantic Group, Inc. (CAA) Downgraded by Deutsche Bank AG to “Hold”
Deutsche Bank AG lowered shares of CalAtlantic Group, Inc. (NYSE:CAA) from a buy rating to a hold rating in a research note issued to investors on Monday morning. Deutsche Bank AG currently has $52.00 price target on the industrial goods maker’s stock.
A number of other brokerages have also commented on CAA. ValuEngine lowered CalAtlantic Group from a buy rating to a hold rating in a report on Friday, September 1st. Mizuho lowered CalAtlantic Group from a buy rating to a neutral rating and set a $51.00 price target on the stock. in a report on Monday, November 13th. JMP Securities lowered CalAtlantic Group from an outperform rating to a market perform rating in a report on Monday, October 30th. UBS AG initiated coverage on CalAtlantic Group in a report on Wednesday, October 25th. They set a neutral rating and a $42.00 price target on the stock. Finally, Wedbush lowered CalAtlantic Group from an outperform rating to a neutral rating and lifted their price target for the stock from $41.00 to $51.00 in a report on Tuesday, October 31st. Fifteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. CalAtlantic Group currently has a consensus rating of Hold and a consensus target price of $46.00.
Shares of CalAtlantic Group (CAA) opened at $52.53 on Monday. The company has a market capitalization of $5,771.60, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.81 and a beta of 1.54. CalAtlantic Group has a fifty-two week low of $31.99 and a fifty-two week high of $52.73. The company has a current ratio of 5.91, a quick ratio of 0.29 and a debt-to-equity ratio of 0.80.
CalAtlantic Group (NYSE:CAA) last issued its quarterly earnings results on Wednesday, November 8th. The industrial goods maker reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.07). The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.55 billion. CalAtlantic Group had a return on equity of 10.35% and a net margin of 6.85%. The business’s revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 earnings per share. analysts anticipate that CalAtlantic Group will post 3.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 30th. Shareholders of record on Friday, December 15th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Thursday, December 14th. CalAtlantic Group’s dividend payout ratio is currently 4.75%.
In other CalAtlantic Group news, Director William L. Jews sold 7,482 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $51.52, for a total value of $385,472.64. Following the completion of the sale, the director now directly owns 41,717 shares of the company’s stock, valued at $2,149,259.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Peter G. Skelly sold 20,382 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $51.63, for a total value of $1,052,322.66. Following the completion of the sale, the chief operating officer now directly owns 174,159 shares of the company’s stock, valued at $8,991,829.17. The disclosure for this sale can be found here. Insiders sold 144,897 shares of company stock valued at $7,244,983 over the last three months. Company insiders own 39.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Thompson Davis & CO. Inc. purchased a new position in shares of CalAtlantic Group in the second quarter valued at $138,000. Canada Pension Plan Investment Board purchased a new position in shares of CalAtlantic Group in the second quarter valued at $154,000. Riverhead Capital Management LLC grew its position in shares of CalAtlantic Group by 71.4% in the second quarter. Riverhead Capital Management LLC now owns 4,387 shares of the industrial goods maker’s stock valued at $155,000 after purchasing an additional 1,827 shares in the last quarter. LS Investment Advisors LLC grew its position in shares of CalAtlantic Group by 16.4% in the second quarter. LS Investment Advisors LLC now owns 6,095 shares of the industrial goods maker’s stock valued at $215,000 after purchasing an additional 859 shares in the last quarter. Finally, Sciencast Management LP purchased a new position in shares of CalAtlantic Group in the second quarter valued at $222,000.
About CalAtlantic Group
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