WCI Communities Now Covered by Analysts at JPMorgan Chase & Co. (WCIC)
JPMorgan Chase & Co. initiated coverage on shares of WCI Communities (NASDAQ:WCIC) in a research note issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $20.50 price target on the stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 28.41% from the company’s current price.
The analysts wrote, “We are initiating coverage of WCI Communities (WCIC) with a Neutral rating and a Dec. 2014 price target of $20.50. WCIC represents a high quality ‘pure play’ on the recovering Florida housing market, in our view, featuring industry leading gross margins and strong order growth visibility due to the company’s long land position and less interest rate sensitive homebuyer. However, we believe these attractive fundamentals are fairly reflected by the stock’s relative valuation, trading at 5.6x our 2016 Earnings Power, which represents a 22% premium to its smaller-cap peers. Hence, we rate WCIC Neutral on a relative basis amid our positive sector stance.”
A number of other analysts have also recently weighed in on WCIC. Analysts at FBR Capital Markets initiated coverage on shares of WCI Communities in a research note to investors on Wednesday. They set an “outperform” rating and a $21.00 price target on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of WCI Communities in a research note to investors on Monday. They set an “outperform” rating and a $23.00 price target on the stock. Finally, analysts at Citigroup Inc. initiated coverage on shares of WCI Communities in a research note to investors on Monday. They set a “neutral” rating and a $18.00 price target on the stock.
Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $20.63.
Shares of WCI Communities (NASDAQ:WCIC) traded up 0.31% on Wednesday, hitting $16.00. The stock had a trading volume of 9,750 shares. WCI Communities has a one year low of $14.90 and a one year high of $17.77. The stock’s 50-day moving average is $16.45 and its 200-day moving average is $16.45. The company has a market cap of $412.3 million and a P/E ratio of 4.55.
WCI Communities (NASDAQ:WCIC) last released its earnings data on Tuesday, August 20th. The company reported $0.45 earnings per share for the quarter. The company had revenue of $83.30 million for the quarter, compared to the consensus estimate of $48.50 million.
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