Zacks Investment Research downgraded shares of Century Communities, Inc. (NYSE:CCS) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

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. “

A number of other research firms also recently issued reports on CCS. FBR & Co reiterated a buy rating and set a $30.00 price target on shares of Century Communities in a research note on Tuesday, October 3rd. Wedbush reiterated an outperform rating on shares of Century Communities in a research note on Saturday, September 16th. J P Morgan Chase & Co upgraded Century Communities from a neutral rating to an overweight rating and lifted their price target for the company from $28.00 to $32.00 in a research note on Thursday, September 14th. BidaskClub downgraded Century Communities from a buy rating to a hold rating in a research note on Tuesday, August 8th. Finally, Citigroup Inc. reiterated a buy rating and set a $30.00 price target on shares of Century Communities in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Century Communities has an average rating of Buy and a consensus price target of $30.50.

Century Communities (NYSE:CCS) last issued its earnings results on Thursday, August 3rd. The construction company reported $0.66 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.01). The firm had revenue of $287.60 million during the quarter, compared to analyst estimates of $305.38 million. Century Communities had a net margin of 4.87% and a return on equity of 10.74%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share.

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Hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley boosted its stake in Century Communities by 53.9% during the 1st quarter. Morgan Stanley now owns 85,491 shares of the construction company’s stock valued at $2,172,000 after purchasing an additional 29,938 shares during the last quarter. Prudential Financial Inc. boosted its stake in Century Communities by 72.7% during the 2nd quarter. Prudential Financial Inc. now owns 140,246 shares of the construction company’s stock valued at $3,478,000 after purchasing an additional 59,056 shares during the last quarter. Credit Suisse AG boosted its stake in Century Communities by 114.4% during the 1st quarter. Credit Suisse AG now owns 22,963 shares of the construction company’s stock valued at $583,000 after purchasing an additional 12,255 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Century Communities by 200.0% during the 1st quarter. Wells Fargo & Company MN now owns 31,214 shares of the construction company’s stock valued at $793,000 after purchasing an additional 20,811 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Century Communities by 118.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,188 shares of the construction company’s stock valued at $131,000 after purchasing an additional 2,816 shares during the last quarter. Institutional investors and hedge funds own 59.80% of the company’s stock.

About Century Communities

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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