Pultegroup

PHM · NYSE

$114.53+$3.63 (+3.27%)TodayMarket closed · Oct 20, 7:32 PM ET

Prev close $110.90

PHM analyst rating

BuyConsensus of 15 analysts over the last 12 months. 67% rate it a buy.

Strong buy0
Buy10
Hold4
Underperform0
Sell1

12-month price target · 19 analysts

Average $144.48 (+26.2% upside)

Low: $101.00
Now: $114.53
High: $174.30

Upgrades and downgrades

The latest rating actions, newest first

PHM analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citigroup	Oct 15, 2026	Maintains	Neutral	$134.00 → $122.00	56%
RBC Capital	Oct 15, 2026	Maintains	Sector Perform	$116.00 → $111.00	59%
Barclays	Oct 6, 2026	Maintains	Equal-Weight	$124.00 → $110.00	52%
Morgan Stanley	Oct 1, 2026	Initiates	Equal-Weight	$128.00	29%
Evercore ISI Group	Sep 25, 2026	Maintains	Outperform	$162.00 → $154.00	49%
Truist Securities	Sep 16, 2026	Maintains	Buy	$145.00 → $136.00	47%
Wells Fargo	Sep 11, 2026	Maintains	Overweight	$150.00 → $145.00	47%
StoneX	Sep 4, 2026	Initiates	Buy	$148.00	33%
Wolfe Research	Aug 24, 2026	Upgrade	Peer Perform → Outperform	$129.00	33%
Citigroup	Jul 24, 2026	Maintains	Neutral	$138.00 → $134.00	56%

The case for and against

Updated Oct 18, 2026

Bull case

PulteGroup is well positioned by serving affluent first-time, move-up, and active-adult buyers who are less rate-sensitive, supporting stronger pricing power, steadier demand, and a second-quarter average home price of $544,000 alongside 6% net new order growth. Its backlog of 10,966 homes valued at $6.8 billion, build-to-order sales at 45% of new orders, and reduced spec inventory at 1.3 homes per community point to improving mix, lower execution risk, and a healthy delivery pipeline. It also stands out as a “best of breed” builder with 10% sales CAGR over 10 years, 15% return on equity, superior gross and EBITDA margins versus peers, and a strong balance sheet with low net debt.

Bear case

PulteGroup is facing a deteriorating fundamental backdrop as single-family housing starts are projected to fall to a multi-year low in 2026 at 904,000 and newly constructed home sales to trough at 636,000, signaling weaker industry demand and less pricing power. Its second-quarter results already showed the pressure: revenue declined 10% year-over-year to $4.0 billion, closings fell 8% to 6,997 homes, average selling price slipped 3% to $544,000, and gross margin compressed to 25% from 27% as incentives rose to 10.4%. Although costs are currently flat to down, management still cites intense competition, volatile rates, weak affordability, and risks from land inflation, all of which threaten further margin and earnings erosion.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.