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

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

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. “

CCS has been the topic of a number of other research reports. Wedbush upped their target price on shares of Century Communities from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday. ValuEngine raised shares of Century Communities from a “sell” rating to a “hold” rating in a report on Saturday, July 27th. Finally, TheStreet lowered shares of Century Communities from a “b-” rating to a “c” rating in a report on Friday, May 17th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Century Communities has an average rating of “Buy” and an average target price of $34.30.

Shares of CCS stock traded down $0.39 during trading on Thursday, reaching $27.20. 321,334 shares of the company’s stock traded hands, compared to its average volume of 305,292. The company has a market capitalization of $824.70 million, a P/E ratio of 6.90 and a beta of 1.27. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a 50-day moving average price of $26.83. Century Communities has a 1 year low of $16.35 and a 1 year high of $32.95.

Century Communities (NYSE:CCS) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.03. The company had revenue of $608.60 million for the quarter, compared to analysts’ expectations of $554.22 million. Century Communities had a net margin of 3.21% and a return on equity of 11.94%. Century Communities’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS. Equities research analysts forecast that Century Communities will post 3.6 EPS for the current year.

In related news, CEO Robert J. Francescon sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $26.05, for a total transaction of $2,605,000.00. Following the sale, the chief executive officer now owns 376,280 shares of the company’s stock, valued at approximately $9,802,094. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 14.20% of the company’s stock.

Large investors have recently modified their holdings of the company. Swiss National Bank increased its stake in shares of Century Communities by 13.1% in the 2nd quarter. Swiss National Bank now owns 47,566 shares of the construction company’s stock worth $1,264,000 after acquiring an additional 5,500 shares in the last quarter. Comerica Bank bought a new position in shares of Century Communities in the 2nd quarter worth about $697,000. Envestnet Asset Management Inc. increased its stake in shares of Century Communities by 153.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 85,158 shares of the construction company’s stock worth $2,263,000 after acquiring an additional 51,561 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in Century Communities during the 2nd quarter valued at about $300,000. Finally, Municipal Employees Retirement System of Michigan increased its stake in Century Communities by 94.4% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 55,130 shares of the construction company’s stock valued at $1,466,000 after purchasing an additional 26,770 shares in the last quarter. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

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.

Recommended Story: Net Margin – Understanding the Different Kinds of Profit

Get a free copy of the Zacks research report on Century Communities (CCS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Century Communities (NYSE:CCS)

Receive News & Ratings for Century Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Century Communities and related companies with MarketBeat.com's FREE daily email newsletter.