Century Communities Inc. (CCS) Downgraded by Zacks Investment Research
Century Communities Inc. (NYSE:CCS) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Monday.
According to Zacks, “Century Communities, Inc. is a home building and construction company. Its activities comprise land acquisition, development, and entitlements; and the acquisition, development, construction, marketing, and sale of various single-family detached and attached residential home projects. The Company operates in major metropolitan markets in Colorado, Texas and Nevada. Century Communities, Inc. is based in Greenwood Village, Colorado. “
Other equities research analysts have also recently issued reports about the company. FBR & Co started coverage on Century Communities in a report on Thursday, September 29th. They issued a “buy” rating and a $24.00 target price for the company. Citigroup Inc. began coverage on Century Communities in a research report on Thursday, September 1st. They issued a “buy” rating and a $23.00 price target for the company. Finally, Wedbush began coverage on Century Communities in a research report on Monday, September 19th. They issued an “outperform” rating and a $30.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Century Communities currently has a consensus rating of “Buy” and an average price target of $23.25.
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Century Communities (NYSE:CCS) traded up 0.53% during midday trading on Monday, hitting $20.95. The company had a trading volume of 39,656 shares. The stock has a 50 day moving average price of $20.45 and a 200-day moving average price of $18.61. Century Communities has a 52 week low of $13.11 and a 52 week high of $21.64. The stock has a market capitalization of $433.06 million, a PE ratio of 9.92 and a beta of 0.98.
Century Communities (NYSE:CCS) last issued its earnings results on Tuesday, August 2nd. The company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.08. Century Communities had a return on equity of 10.86% and a net margin of 5.39%. The business earned $257.20 million during the quarter, compared to analysts’ expectations of $216.29 million. During the same period in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 37.7% compared to the same quarter last year. On average, equities analysts predict that Century Communities will post $2.43 EPS for the current year.
In related news, insider Robert J. Francescon sold 71,250 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $19.99, for a total transaction of $1,424,287.50. Following the transaction, the insider now directly owns 435,504 shares of the company’s stock, valued at approximately $8,705,724.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dale Francescon sold 61,500 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $20.00, for a total value of $1,230,000.00. Following the transaction, the insider now directly owns 435,504 shares in the company, valued at $8,710,080. The disclosure for this sale can be found here. Corporate insiders own 28.73% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of Century Communities by 12.2% in the first quarter. Geode Capital Management LLC now owns 95,394 shares of the company’s stock valued at $1,628,000 after buying an additional 10,390 shares in the last quarter. Foundry Partners LLC raised its position in shares of Century Communities by 11.6% in the second quarter. Foundry Partners LLC now owns 223,980 shares of the company’s stock valued at $3,884,000 after buying an additional 23,220 shares in the last quarter. Boston Partners raised its position in shares of Century Communities by 731.0% in the second quarter. Boston Partners now owns 615,501 shares of the company’s stock valued at $10,673,000 after buying an additional 541,431 shares in the last quarter. Scout Investments Inc. acquired a new position in shares of Century Communities during the second quarter valued at about $190,000. Finally, SignalPoint Asset Management LLC raised its position in shares of Century Communities by 6.9% in the second quarter. SignalPoint Asset Management LLC now owns 30,840 shares of the company’s stock valued at $535,000 after buying an additional 1,981 shares in the last quarter. 61.26% of the stock is currently owned by institutional investors.
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