Investors Sell CalAtlantic Group (CAA) on Strength (CAA)

Traders sold shares of CalAtlantic Group Inc (NYSE:CAA) on strength during trading hours on Monday. $23.34 million flowed into the stock on the tick-up and $646.02 million flowed out of the stock on the tick-down, for a money net flow of $622.68 million out of the stock. Of all equities tracked, CalAtlantic Group had the 2nd highest net out-flow for the day. CalAtlantic Group traded up $0.41 for the day and closed at $53.12

Several research firms have weighed in on CAA. Credit Suisse Group reiterated a “neutral” rating and issued a $63.00 price objective (up previously from $51.00) on shares of CalAtlantic Group in a report on Monday, January 22nd. They noted that the move was a valuation call. Wedbush increased their price objective on CalAtlantic Group from $51.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, December 29th. UBS Group increased their price objective on CalAtlantic Group from $55.00 to $63.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Barclays increased their price objective on CalAtlantic Group from $35.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, November 9th. Finally, B. Riley reiterated a “neutral” rating on shares of CalAtlantic Group in a report on Wednesday, November 1st. Fourteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $53.60.

The company has a market capitalization of $5,860.00 and a P/E ratio of 15.76. The company has a current ratio of 5.91, a quick ratio of 0.29 and a debt-to-equity ratio of 0.80.

CalAtlantic Group (NYSE:CAA) last released its earnings results on Wednesday, November 8th. The industrial goods maker reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.07). The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.55 billion. CalAtlantic Group had a net margin of 6.85% and a return on equity of 10.35%. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 EPS. research analysts anticipate that CalAtlantic Group Inc will post 3.3 earnings per share for the current year.

In related news, EVP John Patrick Babel sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $52.48, for a total transaction of $629,760.00. Following the completion of the transaction, the executive vice president now owns 33,603 shares of the company’s stock, valued at approximately $1,763,485.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William L. Jews sold 7,482 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $51.52, for a total value of $385,472.64. Following the transaction, the director now directly owns 41,717 shares of the company’s stock, valued at approximately $2,149,259.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 283,206 shares of company stock valued at $14,970,977. 39.50% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Denali Advisors LLC bought a new position in CalAtlantic Group during the 3rd quarter valued at approximately $769,000. Legal & General Group Plc increased its holdings in shares of CalAtlantic Group by 35.1% in the 3rd quarter. Legal & General Group Plc now owns 93,198 shares of the industrial goods maker’s stock worth $3,414,000 after purchasing an additional 24,194 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of CalAtlantic Group by 12.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 410,882 shares of the industrial goods maker’s stock worth $15,051,000 after purchasing an additional 45,164 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of CalAtlantic Group by 22.5% in the 3rd quarter. New York State Common Retirement Fund now owns 190,922 shares of the industrial goods maker’s stock worth $6,993,000 after purchasing an additional 35,100 shares in the last quarter. Finally, RWC Asset Management LLP increased its holdings in shares of CalAtlantic Group by 22.1% in the 3rd quarter. RWC Asset Management LLP now owns 232,900 shares of the industrial goods maker’s stock worth $8,531,000 after purchasing an additional 42,152 shares in the last quarter. 92.36% of the stock is owned by institutional investors.

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About CalAtlantic Group

CalAtlantic Group, Inc is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.

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