Century Communities (CCS) Upgraded to “Buy” at Zacks Investment Research
Century Communities (NYSE:CCS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, January 3rd. The firm currently has a $36.00 target price on the construction company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.50% from the stock’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. “
A number of other equities analysts have also recently weighed in on CCS. JPMorgan Chase & Co. raised Century Communities from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $28.00 to $32.00 in a report on Thursday, September 14th. Wedbush reaffirmed an “outperform” rating on shares of Century Communities in a report on Saturday, September 16th. FBR & Co reiterated a “buy” rating and set a $30.00 price objective on shares of Century Communities in a research note on Tuesday, October 3rd. B. Riley reiterated a “buy” rating on shares of Century Communities in a research note on Friday, November 3rd. Finally, ValuEngine upgraded Century Communities from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $35.17.
Century Communities (NYSE:CCS) last issued its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.30. The business had revenue of $374.90 million during the quarter, compared to analysts’ expectations of $409.42 million. Century Communities had a return on equity of 10.70% and a net margin of 4.03%. The company’s revenue for the quarter was up 51.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. equities analysts forecast that Century Communities will post 2.12 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of CCS. Boston Partners grew its position in Century Communities by 107.5% in the third quarter. Boston Partners now owns 705,530 shares of the construction company’s stock worth $17,427,000 after acquiring an additional 365,540 shares during the period. Dimensional Fund Advisors LP grew its position in Century Communities by 32.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,178,696 shares of the construction company’s stock worth $29,114,000 after acquiring an additional 285,856 shares during the period. Alpine Woods Capital Investors LLC purchased a new position in Century Communities in the third quarter worth approximately $3,705,000. Peregrine Capital Management LLC lifted its stake in Century Communities by 26.9% during the third quarter. Peregrine Capital Management LLC now owns 484,695 shares of the construction company’s stock worth $11,972,000 after purchasing an additional 102,878 shares in the last quarter. Finally, Lyon Street Capital LLC lifted its stake in Century Communities by 110.9% during the third quarter. Lyon Street Capital LLC now owns 149,670 shares of the construction company’s stock worth $3,697,000 after purchasing an additional 78,711 shares in the last quarter. Institutional investors own 66.58% of the company’s stock.
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Century Communities Company Profile
Century Communities, Inc engages in homebuilding business in Atlanta, Central Texas, Colorado, Houston, Nevada, and Utah. It is involved in the development, design, construction, marketing, and sale of single-family attached and detached homes, as well as entitlement and development of land. The company sells homes through its sales representatives, as well as through independent real estate brokers.
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