Century Communities (NYSE:CCS) Lifted to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Century Communities (NYSE:CCS) from a hold rating to a strong-buy rating in a report published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $35.00 target price on the construction company’s stock.

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. “

A number of other equities research analysts also recently weighed in on CCS. ValuEngine downgraded Century Communities from a sell rating to a strong sell rating in a report on Saturday, March 14th. JPMorgan Chase & Co. boosted their price objective on Century Communities from $15.50 to $24.00 and gave the company a neutral rating in a report on Wednesday, May 6th. TheStreet downgraded Century Communities from a b- rating to a c+ rating in a report on Monday, March 23rd. Finally, B. Riley boosted their price objective on Century Communities from $28.00 to $30.00 and gave the company a buy rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $31.75.

Shares of NYSE:CCS opened at $31.09 on Tuesday. Century Communities has a 1 year low of $9.04 and a 1 year high of $39.31. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day moving average is $30.03 and its 200-day moving average is $26.58. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 8.20 and a beta of 1.93.

Century Communities (NYSE:CCS) last issued its earnings results on Wednesday, April 29th. The construction company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.16. The business had revenue of $602.61 million during the quarter, compared to the consensus estimate of $536.90 million. Century Communities had a return on equity of 12.68% and a net margin of 4.68%. Analysts anticipate that Century Communities will post 3.55 EPS for the current year.

In other Century Communities news, CFO David L. Messenger sold 35,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $31.97, for a total value of $1,118,950.00. Following the transaction, the chief financial officer now owns 132,688 shares of the company’s stock, valued at $4,242,035.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert J. Francescon sold 100,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $27.65, for a total value of $2,765,000.00. Following the completion of the transaction, the chief executive officer now directly owns 291,370 shares in the company, valued at approximately $8,056,380.50. The disclosure for this sale can be found here. 13.10% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of CCS. Wellington Management Group LLP raised its stake in shares of Century Communities by 83.5% in the first quarter. Wellington Management Group LLP now owns 1,926,679 shares of the construction company’s stock valued at $27,956,000 after buying an additional 876,809 shares during the period. Frontier Capital Management Co. LLC raised its stake in shares of Century Communities by 46.5% during the 1st quarter. Frontier Capital Management Co. LLC now owns 1,354,461 shares of the construction company’s stock valued at $19,653,000 after purchasing an additional 429,726 shares during the period. Global Alpha Capital Management Ltd. bought a new stake in shares of Century Communities during the 1st quarter valued at $5,537,000. Nuveen Asset Management LLC raised its stake in shares of Century Communities by 74.9% during the 1st quarter. Nuveen Asset Management LLC now owns 518,149 shares of the construction company’s stock valued at $7,518,000 after purchasing an additional 221,825 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Century Communities by 20.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,004,912 shares of the construction company’s stock valued at $27,484,000 after purchasing an additional 169,366 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Century Communities Company Profile

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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