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

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

Several other brokerages have also weighed in on CCS. JPMorgan Chase & Co. dropped their target price on Century Communities from $56.00 to $49.00 and set an “underweight” rating on the stock in a research report on Monday, February 2nd. Citigroup initiated coverage on shares of Century Communities in a research report on Wednesday, January 21st. They set an “outperform” rating for the company. Citizens Jmp started coverage on shares of Century Communities in a report on Wednesday, January 21st. They issued a “market outperform” rating and a $92.00 price objective on the stock. B. Riley Financial reiterated a “buy” rating on shares of Century Communities in a research report on Thursday, January 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Century Communities in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $74.75.

Century Communities Stock Up 3.3%

NYSE:CCS opened at $57.38 on Monday. The firm has a market capitalization of $1.67 billion, a PE ratio of 11.81 and a beta of 1.54. The stock has a 50 day moving average of $64.49 and a 200-day moving average of $62.83. Century Communities has a 52 week low of $50.42 and a 52 week high of $76.00. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.43.

Century Communities (NYSE:CCS) last announced its quarterly earnings results on Wednesday, January 28th. The construction company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.20. Century Communities had a return on equity of 6.87% and a net margin of 3.58%.The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the business posted $3.54 EPS. The business’s revenue was down 3.1% on a year-over-year basis. Analysts predict that Century Communities will post 11.07 EPS for the current year.

Insider Activity

In other news, Chairman Dale Francescon sold 100,100 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $72.44, for a total transaction of $7,251,244.00. Following the transaction, the chairman directly owned 561,662 shares of the company’s stock, valued at approximately $40,686,795.28. This trade represents a 15.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On Century Communities

Several institutional investors have recently bought and sold shares of CCS. Parallel Advisors LLC increased its stake in Century Communities by 207.6% during the 4th quarter. Parallel Advisors LLC now owns 609 shares of the construction company’s stock valued at $36,000 after buying an additional 411 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Century Communities by 175.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 730 shares of the construction company’s stock worth $41,000 after acquiring an additional 465 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Century Communities in the 4th quarter worth approximately $70,000. Jones Financial Companies Lllp boosted its holdings in shares of Century Communities by 1,513.3% in the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the construction company’s stock valued at $81,000 after acquiring an additional 1,135 shares in the last quarter. Finally, State of Wyoming boosted its holdings in shares of Century Communities by 37.3% in the third quarter. State of Wyoming now owns 1,644 shares of the construction company’s stock valued at $104,000 after acquiring an additional 447 shares in the last quarter. Institutional investors and hedge funds 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.