M.D.C. Holdings, Inc. (MDC) Stock Rating Upgraded by Wells Fargo & Company
M.D.C. Holdings, Inc. (NYSE:MDC) was upgraded by equities researchers at Wells Fargo & Company from an “underperform” rating to a “market perform” rating in a research report issued on Wednesday. The firm presently has a $30.00 price objective on the construction company’s stock. Wells Fargo & Company’s target price points to a potential downside of 4.00% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other research analysts have also recently commented on MDC. Citigroup Inc. cut shares of M.D.C. Holdings from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 10th. Zacks Investment Research cut shares of M.D.C. Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. Bank of America Corporation reaffirmed an “underperform” rating and issued a $27.00 target price (up previously from $24.00) on shares of M.D.C. Holdings in a research report on Wednesday, June 28th. BidaskClub raised shares of M.D.C. Holdings from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 29th. Finally, Deutsche Bank AG upped their target price on shares of M.D.C. Holdings from $27.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Four analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $31.20.
M.D.C. Holdings (NYSE:MDC) opened at 31.25 on Wednesday. The company has a 50-day moving average of $33.70 and a 200 day moving average of $32.49. M.D.C. Holdings has a 1-year low of $21.25 and a 1-year high of $36.92. The stock has a market cap of $1.62 billion, a P/E ratio of 13.24 and a beta of 1.36.
M.D.C. Holdings (NYSE:MDC) last posted its earnings results on Tuesday, August 1st. The construction company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. The company had revenue of $648.97 million for the quarter, compared to analysts’ expectations of $623.95 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. M.D.C. Holdings’s revenue for the quarter was up 13.6% compared to the same quarter last year. Analysts predict that M.D.C. Holdings will post $2.44 EPS for the current year.
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In other M.D.C. Holdings news, Director David E. Blackford sold 26,250 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $36.11, for a total transaction of $947,887.50. Following the sale, the director now directly owns 40,928 shares in the company, valued at $1,477,910.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.30% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of M.D.C. Holdings by 61,394.6% in the first quarter. BlackRock Inc. now owns 5,836,452 shares of the construction company’s stock worth $175,386,000 after buying an additional 5,826,961 shares during the period. Vanguard Group Inc. raised its stake in shares of M.D.C. Holdings by 14.8% in the second quarter. Vanguard Group Inc. now owns 4,347,875 shares of the construction company’s stock worth $153,611,000 after buying an additional 561,481 shares during the period. Koch Industries Inc. acquired a new stake in shares of M.D.C. Holdings during the second quarter worth about $342,000. State Street Corp raised its stake in shares of M.D.C. Holdings by 19.8% in the first quarter. State Street Corp now owns 1,494,833 shares of the construction company’s stock worth $44,919,000 after buying an additional 247,408 shares during the period. Finally, Federated Investors Inc. PA raised its stake in shares of M.D.C. Holdings by 80,713.5% in the second quarter. Federated Investors Inc. PA now owns 244,865 shares of the construction company’s stock worth $8,651,000 after buying an additional 244,562 shares during the period. Institutional investors own 81.59% of the company’s stock.
About M.D.C. Holdings
M.DC Holdings, Inc is engaged in two primary operations, including homebuilding and financial services. The Company’s segments include West, including segments located in Arizona, California, Nevada and Washington; Mountain, including segments located in Colorado and Utah; East, including segments located in Virginia, Florida and Maryland, which includes Pennsylvania and New Jersey; mortgage operations, including HomeAmerican Mortgage Corporation, and Other, which includes Allegiant Insurance Company, Inc, StarAmerican Insurance Ltd., American Home Insurance Agency, Inc and American Home Title and Escrow Company.
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