JP Morgan Upgrades PulteGroup to Overweight

Brokerage firm JP Morgan Upgrades its rating on PulteGroup(NYSE:PHM). The shares have been rated Overweight. Previously, the analysts had a Neutral rating on the shares. The rating by JP Morgan was issued on Jul 22, 2016.

In a different note, On Apr 25, 2016, Raymond James said it Downgrades its rating on PulteGroup. In the research note, the firm Removes the price-target to $19.00 per share. The shares have been rated ‘Market Perform’ by the firm.

PulteGroup (PHM) shares turned negative on Thursdays trading session with the shares closing down -0.39 points or -1.76% at a volume of 91,37,202. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $22.1. The peak price level was also seen at $22.1 while the days lowest was $21.64. Finally the shares closed at $21.72. The 52-week high of the shares is $22.4 while the 52-week low is $14.61. According to the latest information available, the market cap of the company is $7,463 M.

PulteGroup(PHM) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.80B. Analysts had an estimated revenue of $1.65B. Earnings per share were $0.37. Analysts had estimated an EPS of $0.32.

Several Insider Transactions has been reported to the SEC. On Jul 11, 2016, James L Ossowski (VP Finance & Controller) sold 10,000 shares at $20.00 per share price.Also, On Jul 8, 2016, James R Ellinghausen (Exec. Vice President-HR) sold 100,000 shares at $20.25 per share price.On May 4, 2016, Bryce Blair (director) purchased 5,479 shares at $18.18 per share price, according to the Form-4 filing with the securities and exchange commission.

PulteGroup Inc. (PulteGroup) is a homebuilder operating in the United States. The Company’s subsidiaries engage in the homebuilding business. The Company also offers mortgage banking operations through Pulte Mortgage LLC (Pulte Mortgage) and title operations. It offers a variety of home designs including single-family detached townhouses condominiums and duplexes. It has delivered approximately 640000 homes. It operates in approximately 49 markets located throughout 26 states. The Company operates through its Homebuilding and Financial Services segments. The Company’s Homebuilding Operations include the acquisition and development of land for residential purposes within the United States and the construction of housing on such land. The Financial Services operations consist of mortgage banking and title operations.

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