M.D.C. (MDC) Rating Lowered to Strong Sell at ValuEngine

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ValuEngine cut shares of M.D.C. (NYSE:MDC) from a sell rating to a strong sell rating in a research report report published on Friday morning.

Other equities analysts have also issued reports about the company. Wedbush dropped their target price on M.D.C. from $34.00 to $33.00 and set a neutral rating for the company in a research note on Thursday, August 2nd. Zacks Investment Research lowered M.D.C. from a strong-buy rating to a hold rating in a research note on Wednesday, July 18th. JPMorgan Chase & Co. upgraded M.D.C. from an underweight rating to a neutral rating and set a $36.00 target price for the company in a research note on Friday, July 13th. Finally, Bank of America upgraded M.D.C. from an underperform rating to a buy rating and upped their target price for the company from $36.00 to $42.00 in a research note on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. M.D.C. currently has an average rating of Hold and an average price target of $34.43.

M.D.C. stock traded down $0.50 during trading on Friday, hitting $26.70. The company’s stock had a trading volume of 384,215 shares, compared to its average volume of 555,456. The firm has a market capitalization of $1.67 billion, a P/E ratio of 10.35, a PEG ratio of 0.43 and a beta of 1.43. M.D.C. has a 1-year low of $26.45 and a 1-year high of $37.45. The company has a current ratio of 9.59, a quick ratio of 2.49 and a debt-to-equity ratio of 0.72.

M.D.C. (NYSE:MDC) last released its earnings results on Wednesday, August 1st. The construction company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.27. The firm had revenue of $749.60 million during the quarter, compared to analyst estimates of $713.27 million. M.D.C. had a return on equity of 13.82% and a net margin of 6.91%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 earnings per share. As a group, equities analysts predict that M.D.C. will post 3.79 EPS for the current year.

In other M.D.C. news, Chairman Larry A. Mizel sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $33.15, for a total transaction of $331,500.00. Following the completion of the sale, the chairman now directly owns 121,867 shares in the company, valued at $4,039,891.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Larry A. Mizel sold 20,000 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $32.62, for a total value of $652,400.00. Following the sale, the chairman now owns 131,867 shares of the company’s stock, valued at $4,301,501.54. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $1,637,300 over the last 90 days. 27.00% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in MDC. MUFG Americas Holdings Corp acquired a new stake in M.D.C. during the second quarter worth about $106,000. Sun Life Financial INC acquired a new stake in M.D.C. during the second quarter worth about $140,000. Xact Kapitalforvaltning AB purchased a new stake in shares of M.D.C. in the first quarter worth about $203,000. Amalgamated Bank purchased a new stake in shares of M.D.C. in the second quarter worth about $204,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of M.D.C. in the second quarter worth about $214,000. Institutional investors own 77.54% of the company’s stock.

About M.D.C.

M.DC Holdings, Inc, through its subsidiaries, engages in the homebuilding and financial service businesses. Its homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name.

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Analyst Recommendations for M.D.C. (NYSE:MDC)

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