Are CalAtlantic Group (NYSE:CAA) Shares Worth Your Time and Dime Following Recent Credit Suisse Upgrade?


CalAtlantic Group (NYSE:CAA) Stock Upgrade

Credit Suisse increased the shares of CalAtlantic Group (NYSE:CAA) from a “Neutral” rating to “Outperform” rating in analysts note issued to investors and clients on 15 December.

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 21.71% above today’s ($37.49) 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.

The stock increased 2.66% or $0.97 on December 15, striking $37.49. Approximately 858,617 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 $4.42 billion. The Firm operates in two divisions: homebuilding and financial services. It has 12.64 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.”