M.D.C. (NYSE:MDC) has been given a $34.00 price objective by Bank of America in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the construction company’s stock. Bank of America’s price target points to a potential upside of 27.34% from the company’s previous close.

MDC has been the topic of several other research reports. Zacks Investment Research downgraded shares of M.D.C. from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine downgraded shares of M.D.C. from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Wedbush lowered their target price on shares of M.D.C. from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, August 2nd. Finally, JPMorgan Chase & Co. downgraded shares of M.D.C. from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $38.00 to $32.00 in a report on Friday, September 21st. Two investment 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. has a consensus rating of “Hold” and an average price target of $34.43.

MDC opened at $26.70 on Thursday. The company has a market capitalization of $1.67 billion, a price-to-earnings 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 debt-to-equity ratio of 0.72, a current ratio of 9.59 and a quick ratio of 2.49.

M.D.C. (NYSE:MDC) last released its earnings results on Wednesday, August 1st. The construction company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.85 by $0.27. M.D.C. had a net margin of 6.91% and a return on equity of 13.82%. The firm had revenue of $749.60 million for the quarter, compared to the consensus estimate of $713.27 million. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities research analysts anticipate that M.D.C. will post 3.79 earnings per share for the current fiscal year.

In related news, Director Michael A. Berman sold 20,000 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $32.67, for a total transaction of $653,400.00. Following the sale, the director now owns 131,867 shares of the company’s stock, valued at $4,308,094.89. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Larry A. Mizel sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $33.15, for a total transaction of $331,500.00. Following the sale, the chairman now directly owns 121,867 shares in the company, valued at approximately $4,039,891.05. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock worth $1,637,300 in the last three months. Insiders own 27.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MDC. Schwab Charles Investment Management Inc. raised its stake in M.D.C. by 4.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 343,862 shares of the construction company’s stock valued at $9,601,000 after purchasing an additional 15,615 shares in the last quarter. Northern Trust Corp raised its stake in M.D.C. by 2.2% during the first quarter. Northern Trust Corp now owns 862,854 shares of the construction company’s stock valued at $24,090,000 after purchasing an additional 18,716 shares in the last quarter. BlackRock Inc. raised its stake in M.D.C. by 15.0% during the first quarter. BlackRock Inc. now owns 7,547,743 shares of the construction company’s stock valued at $210,731,000 after purchasing an additional 983,355 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in M.D.C. by 3.4% during the first quarter. Great West Life Assurance Co. Can now owns 60,681 shares of the construction company’s stock valued at $1,694,000 after purchasing an additional 1,970 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in M.D.C. by 9.4% during the first quarter. California Public Employees Retirement System now owns 125,341 shares of the construction company’s stock valued at $3,500,000 after purchasing an additional 10,757 shares in the last quarter. 77.54% of the stock is currently owned by institutional investors.

M.D.C. Company Profile

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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