Century Communities (CCS) Lifted 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 research note issued to investors on Wednesday, January 3rd. The brokerage currently has a $36.00 target price on the construction company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 3.15% 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 equities analysts have also weighed in on the stock. JPMorgan Chase & Co. raised shares of Century Communities from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $28.00 to $32.00 in a research report on Thursday, September 14th. Wedbush raised their target price on shares of Century Communities from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, December 29th. ValuEngine raised shares of Century Communities from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. FBR & Co restated a “buy” rating and issued a $30.00 price target on shares of Century Communities in a research note on Tuesday, October 3rd. Finally, B. Riley restated a “buy” rating on shares of Century Communities in a research note on Friday, November 3rd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $35.17.

Century Communities (CCS) opened at $34.90 on Wednesday. Century Communities has a 1-year low of $20.30 and a 1-year high of $36.00. The company has a market cap of $962.30, a price-to-earnings ratio of 16.31 and a beta of 1.17. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.19.

Century Communities (NYSE:CCS) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.30. The firm had revenue of $374.90 million during the quarter, compared to analysts’ expectations of $409.42 million. Century Communities had a net margin of 4.03% and a return on equity of 10.70%. The company’s revenue for the quarter was up 51.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 earnings per share. analysts forecast that Century Communities will post 2.12 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Century Communities in the 3rd quarter valued at $120,000. Alliancebernstein L.P. bought a new stake in Century Communities during the 2nd quarter valued at $216,000. Cubist Systematic Strategies LLC bought a new stake in Century Communities during the 3rd quarter valued at $224,000. Nordea Investment Management AB increased its stake in Century Communities by 31.4% during the 2nd quarter. Nordea Investment Management AB now owns 9,200 shares of the construction company’s stock valued at $228,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Virtu KCG Holdings LLC bought a new stake in Century Communities during the 2nd quarter valued at $235,000. Institutional investors own 66.30% 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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