Century Communities (NYSE:CCS) Price Target Cut to $102.00

Century Communities (NYSE:CCS) had its price objective decreased by stock analysts at B. Riley from $110.00 to $102.00 in a research note issued to investors on Tuesday, The Fly reports. The firm currently has a “buy” rating on the construction company’s stock. B. Riley’s price target suggests a potential upside of 65.80% from the company’s previous close.

A number of other research analysts have also commented on the stock. Wedbush upped their price objective on shares of Century Communities from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, July 29th.
Zacks Investment Research cut shares of Century Communities from a “hold” rating to a “sell” rating in a research note on Monday, October 4th. Finally, Zelman & Associates raised shares of Century Communities from a “sell” rating to a “hold” rating in a research note on Thursday, July 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $82.20.

Shares of CCS opened at $61.52 on Tuesday. The company has a 50-day simple moving average of $66.80 and a 200-day simple moving average of $67.87. The firm has a market capitalization of $2.08 billion, a P/E ratio of 5.77 and a beta of 1.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.10 and a current ratio of 2.10. Century Communities has a 52 week low of $38.08 and a 52 week high of $83.20.

Century Communities (NYSE:CCS) last announced its quarterly earnings data on Wednesday, July 28th. The construction company reported $3.47 EPS for the quarter, beating the Zacks’ consensus estimate of $2.82 by $0.65. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Century Communities had a net margin of 9.42% and a return on equity of 27.19%. As a group, equities analysts forecast that Century Communities will post 13.65 earnings per share for the current year.

In other Century Communities news, CEO Robert J. Francescon sold 90,000 shares of the company’s stock in a transaction dated Wednesday, August 11th. The shares were sold at an average price of $72.08, for a total transaction of $6,487,200.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.80% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in CCS. Goldman Sachs Group Inc. lifted its position in shares of Century Communities by 505.3% during the second quarter. Goldman Sachs Group Inc. now owns 755,112 shares of the construction company’s stock worth $50,245,000 after purchasing an additional 630,372 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Century Communities during the second quarter worth approximately $36,952,000. State Street Corp lifted its position in shares of Century Communities by 21.0% during the second quarter. State Street Corp now owns 1,384,895 shares of the construction company’s stock worth $92,151,000 after purchasing an additional 240,254 shares in the last quarter. Bank of Montreal Can lifted its holdings in Century Communities by 2,164.3% in the first quarter. Bank of Montreal Can now owns 222,652 shares of the construction company’s stock valued at $14,219,000 after buying an additional 212,819 shares during the period. Finally, Morgan Stanley lifted its holdings in Century Communities by 61.8% in the second quarter. Morgan Stanley now owns 381,646 shares of the construction company’s stock valued at $25,395,000 after buying an additional 145,772 shares during the period. Institutional investors own 85.55% of the company’s stock.

About Century Communities

Century Communities, Inc engages in the development, design, construction, marketing and sale of single-family attached and detached homes. It operates through the following business segments: West, Mountain, Texas, Southeast, and Wade Journey Homes. The West segment refers to Southern California, Central Valley, Bay Area and Washington.

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