Century Communities (NYSE:CCS) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Century Communities (NYSE:CCS) from a strong sell rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

Several other research firms have also recently commented on CCS. JPMorgan Chase & Co. lowered their target price on shares of Century Communities from $56.00 to $49.00 and set an “underweight” rating on the stock in a research note on Monday, February 2nd. Citigroup assumed coverage on Century Communities in a research report on Wednesday, January 21st. They issued an “outperform” rating for the company. B. Riley Financial reaffirmed a “buy” rating on shares of Century Communities in a research note on Thursday, January 29th. Citizens Jmp assumed coverage on Century Communities in a research report on Wednesday, January 21st. They set a “market outperform” rating and a $92.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Century Communities in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $74.75.

Century Communities Price Performance

NYSE CCS opened at $57.38 on Monday. Century Communities has a 52 week low of $50.42 and a 52 week high of $76.00. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 11.81 and a beta of 1.54. The company has a 50-day moving average price of $64.49 and a two-hundred day moving average price of $62.83. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.43.

Century Communities (NYSE:CCS) last announced its quarterly earnings results on Wednesday, January 28th. The construction company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.20. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.04 billion. Century Communities had a return on equity of 6.87% and a net margin of 3.58%.The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.54 EPS. Analysts forecast that Century Communities will post 11.07 EPS for the current year.

Century Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were paid a dividend of $0.32 per share. This is a boost from Century Communities’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, February 25th. Century Communities’s payout ratio is currently 26.34%.

Insider Activity at Century Communities

In other news, Chairman Dale Francescon sold 100,100 shares of Century Communities stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $72.44, for a total value of $7,251,244.00. Following the transaction, the chairman directly owned 561,662 shares of the company’s stock, valued at $40,686,795.28. This trade represents a 15.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 12.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Century Communities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in shares of Century Communities by 207.6% in the fourth quarter. Parallel Advisors LLC now owns 609 shares of the construction company’s stock valued at $36,000 after purchasing an additional 411 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Century Communities by 175.5% during the second quarter. EverSource Wealth Advisors LLC now owns 730 shares of the construction company’s stock valued at $41,000 after buying an additional 465 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Century Communities in the 4th quarter worth about $70,000. Jones Financial Companies Lllp boosted its position in Century Communities by 1,513.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the construction company’s stock worth $81,000 after acquiring an additional 1,135 shares during the period. Finally, State of Wyoming boosted its position in Century Communities by 37.3% during the 3rd quarter. State of Wyoming now owns 1,644 shares of the construction company’s stock worth $104,000 after acquiring an additional 447 shares during the period. Institutional investors and hedge funds own 99.54% of the company’s stock.

Century Communities Company Profile

Century Communities, Inc is a national homebuilder and land developer headquartered in Greenwood Village, Colorado. The company is engaged in the acquisition, development, construction and sale of single- and multi-family residential homes, offering a range of floor plans and design options to homebuyers. In addition to its core homebuilding activities, Century Communities provides ancillary services such as mortgage financing, title and closing services, and insurance products through its wholly owned subsidiaries, aiming to deliver a comprehensive homebuying experience.

Founded in 2009, Century Communities rapidly expanded through both organic growth and strategic land acquisitions, positioning itself in high-growth markets across the United States.