PulteGroup (PHM) is Downgraded by Sterne Agee CRT to Neutral

PulteGroup (PHM) is Downgraded by Sterne Agee CRT to Neutral , according to the research report released to the investors. Earlier the firm had a rating of Buy on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Shares of PulteGroup, Inc. (NYSE:PHM) ended Thursday session in red amid volatile trading. The shares closed down 0.27 points or 1.5% at $17.75 with 5,017,265 shares getting traded. Post opening the session at $18.1, the shares hit an intraday low of $17.67 and an intraday high of $18.17 and the price vacillated in this range throughout the day. The company has a market cap of $6,197 million and the number of outstanding shares has been calculated to be 349,137,140 shares. The 52-week high of PulteGroup, Inc. (NYSE:PHM) is $23.36 and the 52-week low is $17.08.

During the last several months other analysts have commented on the company rating. Barclays maintains its view on PulteGroup, Inc. (NYSE:PHM) according to the research report released by the firm to its investors. The shares have now been rated Underweight by the stock experts at the ratings house. Barclays raises the price target from $17 per share to $18 per share on PulteGroup, Inc.. The rating by the firm was issued on October 23, 2015.

PulteGroup, Inc. (NYSE:PHM) has received a hold rating for the short term, according to the latest rank of 3 from research firm, Zacks. The company received an average rating of 2.75 from 11 analysts. 2 analyst have rated it as strong sell. 3 have rated it as a strong buy. 6 analysts have rated the company at hold.

PulteGroup, Inc. (NYSE:PHM): The mean estimate for the short term price target for PulteGroup, Inc. (NYSE:PHM) stands at $21.95 according to 10 Analysts. The higher price target estimate for the stock has been calculated at $26 while the lower price target estimate is at $17.

PulteGroup, Inc. has lost 1.77% in the last five trading days and dropped 3.1% in the last 4 weeks. PulteGroup, Inc. has dropped 13.07% during the last 3-month period . Year-to-Date the stock performance stands at -15.89%.

PulteGroup, Inc. is a homebuilder in the United States. The Company’s subsidiaries engage primarily in the homebuilding business. It also offers mortgage banking operations through Pulte Mortgage LLC and title operations. Homebuilding, its core business, includes acquiring and developing land primarily for residential purposes within the United States and constructing houses on such land. The Company offers a variety of home designs, including single-family detached, townhouses, condominiums and duplexes. It has constructed approximately 625,000 houses. It operates through Homebuilding Operations and Financial Services Operations segments. The Homebuilding Operations segment offers a product line to meet the needs of home buyers in its targeted markets. The Financial Services operations segment consists principally of mortgage banking and title operations.