CalAtlantic Group Inc. (NYSE:CAA) has been assigned a $45.00 price objective by analysts at MKM Partners in a research note issued to investors on Thursday. The brokerage presently has a “buy” rating on the stock. MKM Partners’ price objective would indicate a potential upside of 31.89% from the company’s current price.
Several other research firms have also weighed in on CAA. Zacks Investment Research lowered shares of CalAtlantic Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 27th. FBR & Co restated a “hold” rating and set a $38.00 price objective on shares of CalAtlantic Group in a research note on Thursday, November 3rd. TheStreet upgraded shares of CalAtlantic Group from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Royal Bank Of Canada lowered their price objective 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. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of CalAtlantic Group in a research note on Thursday, November 3rd. One research 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. The stock currently has a consensus rating of “Buy” and an average target price of $42.35.
CalAtlantic Group (NYSE:CAA) traded up 0.18% on Thursday, reaching $34.12. 351,592 shares of the company traded hands. CalAtlantic Group has a 52-week low of $26.97 and a 52-week high of $43.16. The stock has a 50-day moving average price of $32.24 and a 200-day moving average price of $35.29. The firm has a market cap of $3.96 billion, a P/E ratio of 11.79 and a beta of 1.48.
CalAtlantic Group (NYSE:CAA) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.68 billion. CalAtlantic Group had a net margin of 6.44% and a return on equity of 11.73%. CalAtlantic Group’s revenue for the quarter was up 166.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 EPS. Analysts anticipate that CalAtlantic Group will post $3.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Tuesday, December 13th. CalAtlantic Group’s dividend payout ratio is currently 5.56%.
In other CalAtlantic Group news, CMO Wendy L. Marlett sold 18,000 shares of the business’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 completion of the sale, 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 accessible through the SEC website. 37.80% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in CalAtlantic Group by 3.6% in the first quarter. Geode Capital Management LLC now owns 500,443 shares of the company’s stock valued at $16,724,000 after buying an additional 17,476 shares during the period. Renaissance Technologies LLC purchased a new stake in CalAtlantic Group during the first quarter valued at $17,731,000. AMP Capital Investors Ltd purchased a new stake in CalAtlantic Group during the first quarter valued at $390,000. Metropolitan Life Insurance Co. NY boosted its stake in CalAtlantic Group by 1.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 122,134 shares of the company’s stock valued at $4,082,000 after buying an additional 2,106 shares during the period. Finally, Seven Eight Capital LLC purchased a new stake in CalAtlantic Group during the first quarter valued at $569,000.
About CalAtlantic Group