CalAtlantic Group, Inc. (CAA) Receives Average Rating of "Hold" from Analysts

Lennar to buy CalAtlantic in $9.3bn housebuilder deal

Current CalAtlantic shareholders will receive an 0.885 share of Lennar Class A common stock, which was priced at $51.34 per share on the New York Stock Exchange on October 27. For this reason it is often more effective to compare a company's ROA to that of other companies in the same industry or against its own ROA figures from previous periods. The stock has been on an upward trend for over a month and has surged to a new high for the year. The stock presently has a consensus rating of Buy and an average price target of $42.29. (NYSE:LEN) and CalAtlantic Group (NYSE:CAA) announced a merger, and shares of Merck (NYSE:MRK) fell on news that the pharmaceutical giant was withdrawing a drug application in Europe.

Shares of CalAtlantic were up over 9% in early Monday premarket trading following the release of the news.

Miller and his family trust, which hold a 41.4 percent voting interest in Lennar, and MP CA Homes, an affiliate of MatlinPatterson Global Opportunities Partners that holds a 25.4 percent voting interest in CalAtlantic, have agreed to support the deal, the companies said. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. There's a maximum cash offer of $1.2 billion for this option.

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Barclays PLC raised shares of CalAtlantic Group from an underweight rating to an equal weight rating and set a $35.00 price target on the stock in a report on Tuesday, July 11th. CalAtlantic Group had a return on equity of 11.73% and a net margin of 6.44%. CalAtlantic Group's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The current consensus recommendation provided by covering analysts is 2.40. The shares were sold at an average price of $34.51, for a total value of $621,180.00. Arizona State Retirement System lifted its position in shares of CalAtlantic Group by 1.3% during the second quarter. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

The deal will close in the first quarter of 2018. Riverhead Capital Management LLC now owns 4,387 shares of the construction company's stock worth $155,000 after acquiring an additional 1,827 shares in the last quarter.

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