M.D.C. Holdings Inc. (NYSE:MDC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “M.D.C. HOLDINGS, INC. is engaged in the construction, sale and related financing of residential housing and the acquisition and development of land for use in its homebuilding activities and sale to others, in the Denver, Phoenix, Maryland, Virginia, mid Atlantic region, Las Vegas, Dallas, California metropolitan areas. They are also is involved in real estate brokerage, property management, condominium conversions and fee construction of apartment and commercial buildings. “

Other research analysts have also issued research reports about the company. Citigroup Inc. lifted their target price on M.D.C. Holdings from $27.00 to $29.00 and gave the company a “buy” rating in a report on Friday, August 5th. Argus reaffirmed a “hold” rating on shares of M.D.C. Holdings in a report on Tuesday, July 5th. Deutsche Bank AG lowered M.D.C. Holdings from a “buy” rating to a “hold” rating and reduced their target price for the company from $28.00 to $27.00 in a report on Monday, August 8th. Finally, Wells Fargo & Co. initiated coverage on M.D.C. Holdings in a report on Wednesday, September 28th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $27.25.

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

M.D.C. Holdings (NYSE:MDC) opened at 24.79 on Tuesday. The stock has a 50 day moving average price of $25.57 and a 200 day moving average price of $24.91. The firm has a market cap of $1.22 billion, a P/E ratio of 16.53 and a beta of 1.64. M.D.C. Holdings has a 1-year low of $19.28 and a 1-year high of $28.93.

M.D.C. Holdings (NYSE:MDC) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.06. M.D.C. Holdings had a return on equity of 6.09% and a net margin of 3.62%. The company earned $571.20 million during the quarter, compared to analyst estimates of $535.12 million. During the same quarter last year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, analysts anticipate that M.D.C. Holdings will post $2.11 EPS for the current year.

Several hedge funds have recently modified their holdings of the stock. PineBridge Investments L.P. purchased a new stake in M.D.C. Holdings during the second quarter worth $121,000. Teacher Retirement System of Texas increased its stake in M.D.C. Holdings by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 5,446 shares of the company’s stock worth $133,000 after buying an additional 663 shares during the last quarter. Mason Street Advisors LLC purchased a new stake in M.D.C. Holdings during the second quarter worth $187,000. Profund Advisors LLC purchased a new stake in M.D.C. Holdings during the second quarter worth $216,000. Finally, Quantitative Investment Management LLC purchased a new stake in M.D.C. Holdings during the second quarter worth $221,000. Hedge funds and other institutional investors own 79.09% of the company’s stock.

M.D.C. Holdings Company Profile

M.DC Holdings, Inc is engaged in two primary operations, such as homebuilding and financial services. The Company’s homebuilding operations consist of subsidiary companies that purchases finished lots or develop lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes.

5 Day Chart for NYSE:MDC

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