BTIG lowered the firm’s price target on PulteGroup to $99 from $100 and keeps a Buy rating on the shares. The company’s earnings beat was driven by stronger gross margins, lower SG&A to sales, sales and higher average sales prices than anticipated, though this was partially offset by lower delivery volume, the analyst tells investors in a research note.
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Read More on PHM:
- PulteGroup reports debt-to-capital ratio reduced to 16.5%
- PulteGroup reports Q3 new orders up 43% to 7,065 homes with value of $3.8B
- PulteGroup reports Q3 EPS $2.90, consensus $2.84
- Pultegroup (PHM) Q3 Earnings Cheat Sheet
- PulteGroup initiated with an Overweight at Wells Fargo
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