Zacks Research Upgrades Century Communities (NYSE:CCS) to “Hold”

Century Communities (NYSE:CCS) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other research firms have also commented on CCS. Wall Street Zen raised shares of Century Communities from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. reduced their price objective on Century Communities from $49.00 to $45.00 and set an “underweight” rating for the company in a research report on Wednesday, April 29th. Weiss Ratings cut Century Communities from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Finally, B. Riley Financial downgraded Century Communities from a “buy” rating to a “neutral” rating and reduced their price target for the company from $75.00 to $64.00 in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $67.00.

Century Communities Stock Performance

Century Communities stock opened at $62.68 on Monday. Century Communities has a fifty-two week low of $47.28 and a fifty-two week high of $76.00. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 14.12 and a beta of 1.34. The stock’s 50 day simple moving average is $56.66 and its two-hundred day simple moving average is $60.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.57 and a current ratio of 0.57.

Century Communities (NYSE:CCS) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.27. The company had revenue of $789.67 million for the quarter, compared to analyst estimates of $961.12 million. Century Communities had a return on equity of 6.24% and a net margin of 3.31%.The firm’s revenue was down 16.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 earnings per share. As a group, analysts expect that Century Communities will post 3.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Century Communities by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 1,978,050 shares of the construction company’s stock worth $117,397,000 after purchasing an additional 72,920 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Century Communities by 10.3% during the 4th quarter. First Eagle Investment Management LLC now owns 240,940 shares of the construction company’s stock valued at $14,300,000 after purchasing an additional 22,450 shares during the period. Penn Capital Management Company LLC purchased a new stake in shares of Century Communities during the 3rd quarter valued at about $1,647,000. Pier Capital LLC boosted its holdings in shares of Century Communities by 56.7% in the third quarter. Pier Capital LLC now owns 153,224 shares of the construction company’s stock worth $9,710,000 after buying an additional 55,415 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Century Communities by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 338,699 shares of the construction company’s stock valued at $21,463,000 after buying an additional 71,688 shares during the period. Hedge funds and other institutional investors own 99.54% of the company’s stock.

Century Communities Company Profile

Century Communities, Inc is a national homebuilder and land developer headquartered in Greenwood Village, Colorado. The company is engaged in the acquisition, development, construction and sale of single- and multi-family residential homes, offering a range of floor plans and design options to homebuyers. In addition to its core homebuilding activities, Century Communities provides ancillary services such as mortgage financing, title and closing services, and insurance products through its wholly owned subsidiaries, aiming to deliver a comprehensive homebuying experience.

Founded in 2009, Century Communities rapidly expanded through both organic growth and strategic land acquisitions, positioning itself in high-growth markets across the United States.