Century Communities, Inc. (CCS) Stock Rating Upgraded by J P Morgan Chase & Co
Century Communities, Inc. (NYSE:CCS) was upgraded by investment analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a research note issued to investors on Thursday. The firm presently has a $32.00 price objective on the construction company’s stock, up from their prior price objective of $28.00. J P Morgan Chase & Co’s price target points to a potential upside of 33.33% from the stock’s current price.
Several other research analysts have also recently issued reports on CCS. Citigroup Inc. reiterated a “buy” rating and set a $30.00 target price on shares of Century Communities in a report on Tuesday, August 8th. BidaskClub cut shares of Century Communities from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, ValuEngine upgraded shares of Century Communities from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Century Communities presently has a consensus rating of “Buy” and an average price target of $29.80.
Shares of Century Communities (CCS) opened at 24.00 on Thursday. Century Communities has a 1-year low of $18.45 and a 1-year high of $28.05. The stock has a market cap of $539.98 million, a price-to-earnings ratio of 10.08 and a beta of 1.04. The firm has a 50-day moving average of $23.52 and a 200 day moving average of $25.00.
Century Communities (NYSE:CCS) last issued its earnings results on Thursday, August 3rd. The construction company reported $0.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.01). Century Communities had a return on equity of 10.74% and a net margin of 4.87%. The business had revenue of $287.60 million for the quarter, compared to the consensus estimate of $305.38 million. During the same quarter in the previous year, the company earned $0.62 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. Equities research analysts forecast that Century Communities will post $2.22 earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new position in Century Communities during the 2nd quarter worth about $387,000. California State Teachers Retirement System grew its holdings in Century Communities by 2.3% during the 2nd quarter. California State Teachers Retirement System now owns 30,670 shares of the construction company’s stock worth $761,000 after acquiring an additional 700 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Century Communities by 11.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,874 shares of the construction company’s stock worth $344,000 after acquiring an additional 1,382 shares in the last quarter. State Street Corp grew its holdings in Century Communities by 15.4% during the 2nd quarter. State Street Corp now owns 346,783 shares of the construction company’s stock worth $8,596,000 after acquiring an additional 46,200 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Century Communities by 31.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 27,435 shares of the construction company’s stock worth $680,000 after acquiring an additional 6,566 shares in the last quarter. Institutional investors own 59.80% of the company’s stock.
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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