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


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Century Communities (NYSE:CCS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks.com reports. The firm currently has a $85.00 price objective on the construction company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 7.74% from the company’s previous close.

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 commented on CCS. Wells Fargo & Company began coverage on shares of Century Communities in a research note on Wednesday, April 21st. They issued an “overweight” rating and a $65.00 price target on the stock. Wedbush raised their price target on shares of Century Communities from $75.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, April 29th. Finally, B. Riley raised their price target on shares of Century Communities from $77.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, April 29th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $77.67.

Shares of CCS opened at $78.89 on Monday. Century Communities has a twelve month low of $20.52 and a twelve month high of $78.96. The company has a market cap of $2.66 billion, a P/E ratio of 15.65 and a beta of 1.94. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 0.76. The company’s fifty day simple moving average is $64.39 and its 200-day simple moving average is $52.22.

Century Communities (NYSE:CCS) last posted its quarterly earnings results on Wednesday, April 28th. The construction company reported $3.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $1.48. Century Communities had a net margin of 5.65% and a return on equity of 14.90%. Analysts predict that Century Communities will post 5.1 earnings per share for the current fiscal year.

In other Century Communities news, CFO David L. Messenger sold 50,000 shares of Century Communities stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $74.80, for a total transaction of $3,740,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert J. Francescon sold 75,000 shares of Century Communities stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $60.00, for a total transaction of $4,500,000.00. Following the sale, the chief executive officer now owns 403,465 shares of the company’s stock, valued at $24,207,900. The disclosure for this sale can be found here. 13.10% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vantage Consulting Group Inc purchased a new stake in Century Communities in the 4th quarter worth $34,000. Global Retirement Partners LLC boosted its stake in Century Communities by 85.4% during the 1st quarter. Global Retirement Partners LLC now owns 823 shares of the construction company’s stock worth $50,000 after purchasing an additional 379 shares during the last quarter. Veriti Management LLC acquired a new stake in Century Communities during the 4th quarter worth $46,000. US Bancorp DE boosted its stake in Century Communities by 75.3% during the 4th quarter. US Bancorp DE now owns 1,115 shares of the construction company’s stock worth $49,000 after purchasing an additional 479 shares during the last quarter. Finally, Nkcfo LLC acquired a new stake in Century Communities during the 1st quarter worth $181,000. 93.38% of the stock is owned by institutional investors.

Century Communities Company Profile

Century Communities, Inc, together with its subsidiaries, engages in the design, development, construction, marketing, and sale of single-family attached and detached homes. It is also involved in the entitlement and development of the underlying land; and provision of mortgage, title, and insurance services to its home buyers.

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