Century Communities (NYSE:CCS) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Century Communities (NYSE:CCS) from a strong sell rating to a hold rating in a research note issued to investors on Thursday, Zacks.com reports.

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 research analysts also recently weighed in on CCS. ValuEngine raised shares of Century Communities from a sell rating to a hold rating in a report on Saturday, July 27th. Wedbush boosted their price target on shares of Century Communities from $33.00 to $37.00 and gave the stock an outperform rating in a research note on Wednesday. Finally, TheStreet cut shares of Century Communities from a b- rating to a c rating in a research note on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Century Communities presently has an average rating of Buy and a consensus price target of $34.30.

Century Communities stock traded down $0.39 during mid-day trading on Thursday, hitting $27.20. The stock had a trading volume of 321,334 shares, compared to its average volume of 305,292. The stock has a market cap of $824.70 million, a price-to-earnings ratio of 6.90 and a beta of 1.27. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.30 and a quick ratio of 0.30. The company has a 50 day moving average of $26.83. Century Communities has a one year low of $16.35 and a one year high of $32.95.

Century Communities (NYSE:CCS) last issued its earnings results on Tuesday, July 30th. The construction company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $608.60 million during the quarter, compared to the consensus estimate of $554.22 million. Century Communities had a net margin of 3.21% and a return on equity of 11.94%. Century Communities’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 EPS. On average, research analysts predict that Century Communities will post 3.6 earnings per share for the current year.

In other Century Communities news, CEO Robert J. Francescon sold 100,000 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $26.05, for a total value of $2,605,000.00. Following the sale, the chief executive officer now owns 376,280 shares in the company, valued at approximately $9,802,094. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 14.20% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in CCS. Bank of New York Mellon Corp lifted its stake in Century Communities by 19.4% in the 4th quarter. Bank of New York Mellon Corp now owns 268,736 shares of the construction company’s stock worth $4,638,000 after purchasing an additional 43,645 shares in the last quarter. Citigroup Inc. lifted its stake in Century Communities by 609.3% in the 4th quarter. Citigroup Inc. now owns 7,199 shares of the construction company’s stock worth $124,000 after purchasing an additional 6,184 shares in the last quarter. United Services Automobile Association lifted its stake in Century Communities by 32.9% in the 4th quarter. United Services Automobile Association now owns 13,068 shares of the construction company’s stock worth $226,000 after purchasing an additional 3,232 shares in the last quarter. Geode Capital Management LLC lifted its stake in Century Communities by 23.5% in the 4th quarter. Geode Capital Management LLC now owns 289,221 shares of the construction company’s stock worth $4,991,000 after purchasing an additional 54,994 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Century Communities by 356.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,551 shares of the construction company’s stock valued at $148,000 after buying an additional 6,678 shares in the last quarter. Institutional investors and hedge funds own 95.35% of the company’s stock.

About Century Communities

Century Communities, Inc engages in the design, development, construction, marketing, and sale of single-family attached and detached homes in metropolitan areas in Alabama, Arizona, California, Colorado, Florida, Georgia, Indiana, Nevada, North Carolina, Ohio, South Carolina, Tennessee, Texas, Utah, and Washington.

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