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 research report issued to clients and investors 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. “
Several other equities research analysts also recently commented on the stock. Citigroup Inc. initiated coverage on shares of Century Communities in a report on Thursday, September 1st. They set a “buy” rating and a $23.00 price objective on the stock. Wedbush initiated coverage on shares of Century Communities in a report on Monday, September 19th. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, FBR & Co initiated coverage on shares of Century Communities in a report on Thursday, September 29th. They set a “buy” rating and a $24.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average 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. 39,656 shares of the stock were exchanged. Century Communities has a 1-year low of $13.11 and a 1-year high of $21.64. The company’s 50 day moving average is $20.45 and its 200 day moving average is $18.61. The company has a market capitalization of $433.06 million, a P/E ratio of 9.92 and a beta of 0.98.
Century Communities (NYSE:CCS) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.08. The company had revenue of $257.20 million for the quarter, compared to the consensus estimate of $216.29 million. Century Communities had a net margin of 5.39% and a return on equity of 10.86%. The firm’s quarterly revenue was up 37.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS. Analysts predict that Century Communities will post $2.43 earnings per share for the current fiscal year.
In other news, insider Dale Francescon sold 61,500 shares of the company’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $20.00, for a total transaction of $1,230,000.00. Following the sale, the insider now directly owns 435,504 shares in the company, valued at $8,710,080. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Robert J. Francescon sold 71,250 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $19.99, for a total value of $1,424,287.50. Following the sale, the insider now owns 435,504 shares in the company, valued at $8,705,724.96. The disclosure for this sale can be found here. Insiders own 28.73% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Boston Partners boosted its stake 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. Sprott Inc. bought a new position in Century Communities during the second quarter valued at $8,156,000. Emerald Acquisition Ltd. bought a new position in Century Communities during the second quarter valued at $3,970,000. Northpointe Capital LLC bought a new position in Century Communities during the second quarter valued at $2,719,000. Finally, Dimensional Fund Advisors LP boosted its position in Century Communities by 36.4% in the second quarter. Dimensional Fund Advisors LP now owns 382,249 shares of the company’s stock valued at $6,628,000 after buying an additional 102,050 shares during the period. Hedge funds and other institutional investors own 61.26% of the company’s stock.
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