Credit Suisse Says That It is Time To Finally Upgrade CalAtlantic Group (NYSE:CAA) Stock


CalAtlantic Group (NYSE:CAA) Stock Upgrade

In recent note sent to investors on Tuesday morning, investment advisers at the division of equities of Credit Suisse hiked their rating for shares of CalAtlantic Group (NYSE:CAA) from a Neutral to a solid Outperform. They now have a $47.00 PT on CAA or a 25.03% upside from the current share price.

From a total of 9 analysts covering CalAtlantic Group (NYSE:CAA) stock, 4 rate it a ”Buy”, 0 a “Sell”, and 8 a ”Hold”. This means that 33% of the ratings are positive. The highest target price is $50 while the lowest target price is $44. The mean of all analyst targets is $46.83 with a 22.01% above today’s ($37.4) stock price. CalAtlantic Group was the topic of 5 analyst reports since October 6, 2015 according to the firm StockzIntelligence Inc. KeyBanc Capital Markets initiated shares on October 21 with “Sector Weight” rating. Barclays Capital initiated CAA stock in a recent report from October 13 with “Equal-Weight” rating.

Approximately 632,662 shares of stock traded hands. CalAtlantic Group Inc (NYSE:CAA) has risen 349.08% since May 12, 2015 and is uptrending. It has outperformed by 352.75% the S&P500.

Calatlantic Group, Inc., formerly Standard Pacific Corp., is a builder of single-family attached and detached homes. The company has a market cap of $4.40 billion. The Firm operates in two divisions: homebuilding and financial services. It has 12.61 P/E ratio. The Company’s homebuilding segment activities include acquiring and developing land and construct and sell single-family attached and detached homes.

According to Zacks Investment Research, “CalAtlantic Group, Inc. operates as a homebuilder. The company offers crafted homes. It also provides mortgage financing services to its homebuyers; and title examination services. Calatlantic Group Inc., formerly known as Standard Pacific Corp., is headquartered in Irvine, California.”