Century Communities, Inc (CCS) Upgraded by J P Morgan Chase & Co to Overweight
Century Communities, Inc (NYSE:CCS) was upgraded by analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a research report issued on Thursday, Marketbeat Ratings reports. The firm presently has a $32.00 price target on the construction company’s stock, up from their previous price target of $28.00. J P Morgan Chase & Co’s price objective indicates a potential upside of 33.33% from the company’s current price.
Several other equities research analysts have also recently issued reports on CCS. ValuEngine raised Century Communities from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Citigroup Inc. reissued a “buy” rating and set a $30.00 target price on shares of Century Communities in a research note on Tuesday, August 8th. Finally, BidaskClub cut Century Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.80.
Century Communities (CCS) traded down 0.83% during trading on Thursday, reaching $24.00. The company had a trading volume of 428,159 shares. The company’s 50-day moving average is $23.52 and its 200 day moving average is $25.00. Century Communities has a 52 week low of $18.45 and a 52 week high of $28.05. The firm has a market capitalization of $539.98 million, a price-to-earnings ratio of 10.08 and a beta of 1.04.
Century Communities (NYSE:CCS) last posted its earnings results on Thursday, August 3rd. The construction company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The business had revenue of $287.60 million for the quarter, compared to analyst estimates of $305.38 million. Century Communities had a return on equity of 10.74% and a net margin of 4.87%. Century Communities’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business earned $0.62 EPS. Equities analysts anticipate that Century Communities will post $2.22 EPS for the current year.
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A number of hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new stake in Century Communities during the second quarter worth $387,000. California State Teachers Retirement System increased its stake in Century Communities by 2.3% during the second quarter. California State Teachers Retirement System now owns 30,670 shares of the construction company’s stock worth $761,000 after acquiring an additional 700 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Century Communities by 11.1% during the second quarter. The Manufacturers Life Insurance Company now owns 13,874 shares of the construction company’s stock worth $344,000 after acquiring an additional 1,382 shares during the last quarter. State Street Corp increased its stake in Century Communities by 15.4% during the second quarter. State Street Corp now owns 346,783 shares of the construction company’s stock worth $8,596,000 after acquiring an additional 46,200 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Century Communities by 31.5% during the second quarter. Goldman Sachs Group Inc. now owns 27,435 shares of the construction company’s stock worth $680,000 after acquiring an additional 6,566 shares during the last quarter. 59.80% of the stock is owned by institutional investors.
About Century Communities
Century Communities, Inc engages in homebuilding business in Atlanta, Central Texas, Colorado, Houston, Nevada, and Utah. It is involved in the development, design, construction, marketing, and sale of single-family attached and detached homes, as well as entitlement and development of land. The company sells homes through its sales representatives, as well as through independent real estate brokers.
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