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PulteGroup Inc. (PHM) Analyst Thoughts: How High Can It Go?

PulteGroup Inc. (NYSE:PHM) at last check was buoying at $76.12 on Friday, September 15, with a fall of -3.13% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $78.58 with its price kept floating in the range of $77.00 and $78.627 on the day. Company’s P/E ratio for the trailing 12 months is 6.28. Considering stock’s 52-week price range provides that PHM hit a high price of $86.15 and saw its price falling to a low level of $35.99 during that period. Over a period of past 1-month, stock came subtracting -7.80% in its value.

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In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review PHM stock’s current outlook then short term indicators are assigning it an average of Hold, while medium term indicators are categorizing the stock at an average of 50% Buy. Long term indicators are suggesting an average of 100% Buy for it.

According to ratings assigned by 17 analysts at the scale of 1 to 5 with 1.00 representing a strong buy and 5.00 suggesting a strong sell; 3 of them are recommending PulteGroup Inc. (PHM) as a Hold, while 11 are in view that stock is a Buy. Recommendation by 0 analysts for the stock is an Underweight while number of those analysts who rated the stock as an Overweight is 3, whereas 0 of them are considering the stock as a Sell. When taken as whole, stock gets a rating of Overweight and that encourages the investors to exploit the opportunity and build their stake up in the company.

Digging deeper we become aware of the PEG ratio of the PHM stock which is currently positioned at 1.19. It further provides that stock’s current price level is -4.13% away from its 20-day simple moving average and is -5.89% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 41.03 while volatility remained at 3.11% over the past week which changes to 3.25% when measuring it over the past month. Beta is valued at 1.39, while measure of average true range or ATR is currently at 2.52. In predicting price targets of as low as $85.00 and as high as $115.00, analysts are in agreement on assigning the stock over the next 12 months average price target of $98.38. Stock’s current price level is -11.67% above from estimated low price target while it is -51.08% below the estimated high; and even if the PHM’s share succeeded to reach the median price of $98.50, then the outlook of -29.4% could come to the excitement of the investors.

In comparing PulteGroup Inc. (PHM)’s stock with other industry players reveals that stock’s latest price change of -3.13% and that of 95.63% over the past 12 months is in competing position with that of Toll Brothers Inc. (TOL) which saw its stock price fall by -3.01% in the recent trading and went through an increase of 81.90% in past 12-month trading. Industry’s another major player D.R. Horton Inc. (DHI) has fall -2.91% down in latest trading session, but over the past year has faced arise of 62.09%, while M.D.C. Holdings Inc. (MDC) was also down -3.37% however its price remained floating in the green at 48.74% over the same period. PulteGroup Inc. has a P/E ratio of 6.28 against that of Toll Brothers Inc.’s 5.62 while D.R. Horton Inc. is showing 7.95 for the same. On the other hand, the S&P 500 Index is down -0.92% in the early deals today while the Dow Jones Industrial was dealinglower at -0.59%.

Having a second look at PulteGroup Inc. (NYSE:PHM) provides that stock’s average daily trading volume for 3 months was 2.55 million, while it jumped to 2.46 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 222.16 million.

The percentage of outstanding shares held by the insiders is 0.72% while it is 94.30% for the institutional holders. The figures also indicate that as of Aug 30, 2023, number of stock’s short shares was 9.47 million which implies a short ratio of 4.21. This shows up a 4.32% of Short Interest in company’s outstanding shares on the day. In August the standing of shares short improved as it was 8.89 million in the previous month. Addition of 67.19% by stock’s current price to its year-to-date value in today’s trading is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.