Shares of CalAtlantic Group Inc. (NYSE:CAA) have been given a consensus rating of “Buy” by the nineteen analysts that are covering the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $42.94.
CAA has been the topic of a number of recent research reports. Janney Montgomery Scott upgraded shares of CalAtlantic Group to a “neutral” rating in a research report on Monday, June 20th. Credit Suisse Group AG reiterated a “buy” rating on shares of CalAtlantic Group in a research report on Tuesday, July 12th. MKM Partners upgraded shares of CalAtlantic Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $38.00 to $47.00 in a research report on Monday, July 11th. Bank of America Corp. upgraded shares of CalAtlantic Group from an “underperform” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Friday, August 12th. Finally, RBC Capital Markets initiated coverage on shares of CalAtlantic Group in a research report on Tuesday, July 19th. They set a “buy” rating and a $48.00 price target on the stock.
CalAtlantic Group (NYSE:CAA) traded up 1.14% on Friday, hitting $33.57. 863,500 shares of the company were exchanged. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 13.31 and a beta of 1.49. The stock has a 50 day moving average of $35.42 and a 200 day moving average of $35.55. CalAtlantic Group has a 52 week low of $26.97 and a 52 week high of $43.24.
CalAtlantic Group (NYSE:CAA) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.58. CalAtlantic Group had a net margin of 5.86% and a return on equity of 11.24%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $126.24 million. The firm’s revenue was up 124.4% compared to the same quarter last year. Analysts predict that CalAtlantic Group will post $3.46 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Tuesday, September 13th. CalAtlantic Group’s dividend payout ratio is currently 6.40%.
In other CalAtlantic Group news, CMO Wendy L. Marlett sold 18,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $34.51, for a total transaction of $621,180.00. Following the completion of the transaction, the chief marketing officer now owns 54,396 shares of the company’s stock, valued at $1,877,205.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 37.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can bought a new position in CalAtlantic Group during the second quarter valued at about $113,000. Fifth Third Bancorp bought a new position in CalAtlantic Group during the second quarter valued at about $166,000. LS Investment Advisors LLC raised its position in CalAtlantic Group by 63.5% in the second quarter. LS Investment Advisors LLC now owns 4,564 shares of the company’s stock valued at $168,000 after buying an additional 1,772 shares in the last quarter. Gray Financial Group GA ADV ADV bought a new position in CalAtlantic Group during the second quarter valued at about $216,000. Finally, Tower Research Capital LLC TRC bought a new position in CalAtlantic Group during the second quarter valued at about $220,000.
About CalAtlantic Group
CalAtlantic Group, Inc, formerly Standard Pacific Corp., is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.
Receive News & Ratings for CalAtlantic Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CalAtlantic Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.