An issue of CalAtlantic Group Inc. (NYSE:CAA) debt rose 0.6% as a percentage of its face value during trading on Friday. The high-yield debt issue has a 8.375% coupon and is set to mature on May 15, 2018. The debt is now trading at $108.63 and was trading at $109.00 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.
A number of equities research analysts have issued reports on CAA shares. Wells Fargo & Co. started coverage on shares of CalAtlantic Group in a report on Wednesday, September 28th. They issued a “market perform” rating on the stock. Bank of America Corp. raised shares of CalAtlantic Group from an “underperform” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Friday, August 12th. Zacks Investment Research lowered shares of CalAtlantic Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 11th. TheStreet lowered shares of CalAtlantic Group from a “buy” rating to a “hold” rating in a research note on Monday, October 3rd. Finally, Royal Bank Of Canada cut their target price on shares of CalAtlantic Group from $48.00 to $43.00 and set an “outperform” rating on the stock in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. CalAtlantic Group has a consensus rating of “Buy” and a consensus price target of $42.35.
Shares of CalAtlantic Group Inc. (NYSE:CAA) traded up 0.18% on Friday, reaching $34.12. 351,592 shares of the company’s stock traded hands. The company has a market cap of $3.96 billion, a PE ratio of 11.79 and a beta of 1.48. The stock has a 50-day moving average price of $32.24 and a 200-day moving average price of $35.29. CalAtlantic Group Inc. has a 12-month low of $26.97 and a 12-month high of $43.16.
CalAtlantic Group (NYSE:CAA) last announced its earnings results on Wednesday, October 26th. The company reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. CalAtlantic Group had a net margin of 6.44% and a return on equity of 11.73%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was up 166.0% on a year-over-year basis. Equities research analysts anticipate that CalAtlantic Group Inc. will post $3.42 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Tuesday, December 13th. CalAtlantic Group’s dividend payout ratio is currently 5.56%.
In related news, CMO Wendy L. Marlett sold 18,000 shares of the firm’s stock in a transaction dated 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 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 is available at this link. 37.80% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB increased its position in CalAtlantic Group by 3.9% in the second quarter. Nordea Investment Management AB now owns 50,278 shares of the company’s stock valued at $1,846,000 after buying an additional 1,867 shares in the last quarter. Gray Financial Group GA ADV ADV bought a new position in CalAtlantic Group during the second quarter valued at approximately $216,000. Premier Asset Managment LLC bought a new position in CalAtlantic Group during the second quarter valued at approximately $9,932,000. Nisa Investment Advisors LLC increased its position in CalAtlantic Group by 3.2% in the second quarter. Nisa Investment Advisors LLC now owns 40,122 shares of the company’s stock valued at $1,473,000 after buying an additional 1,250 shares in the last quarter. Finally, Hexavest Inc. increased its position in CalAtlantic Group by 102.0% in the second quarter. Hexavest Inc. now owns 1,445,101 shares of the company’s stock valued at $53,050,000 after buying an additional 729,824 shares in the last quarter.