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

Century Communities (NYSE:CCS) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

Other analysts have also recently issued reports about the company. Wall Street Zen raised Century Communities from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings upgraded Century Communities from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 24th. Finally, Zelman & Associates downgraded Century Communities from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.00.

Century Communities Stock Up 3.7%

CCS stock opened at $63.94 on Monday. Century Communities has a 1-year low of $47.28 and a 1-year high of $76.00. The business’s 50 day simple moving average is $66.80 and its 200 day simple moving average is $61.69. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1.82 billion, a PE ratio of 14.02 and a beta of 1.30.

Century Communities (NYSE:CCS) last released its quarterly earnings data on Wednesday, July 22nd. The construction company reported $1.30 EPS for the quarter, beating the consensus estimate of $0.63 by $0.67. The firm had revenue of $927.23 million for the quarter, compared to the consensus estimate of $857.23 million. Century Communities had a net margin of 3.41% and a return on equity of 6.06%. The company’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.37 earnings per share. As a group, research analysts anticipate that Century Communities will post 4.86 EPS for the current year.

Institutional Investors Weigh In On Century Communities

Several institutional investors and hedge funds have recently bought and sold shares of CCS. BlackRock Inc. acquired a new stake in Century Communities during the second quarter worth about $367,973,000. Wellington Management Group LLP raised its position in shares of Century Communities by 15.1% in the 2nd quarter. Wellington Management Group LLP now owns 1,050,982 shares of the construction company’s stock valued at $75,313,000 after buying an additional 137,957 shares in the last quarter. Heartland Advisors Inc. acquired a new position in shares of Century Communities in the 2nd quarter valued at approximately $37,006,000. Lakewood Capital Management LP bought a new stake in shares of Century Communities during the 2nd quarter worth approximately $34,898,000. Finally, Jennison Associates LLC lifted its holdings in shares of Century Communities by 4.9% during the 1st quarter. Jennison Associates LLC now owns 349,512 shares of the construction company’s stock worth $20,055,000 after acquiring an additional 16,467 shares during the period. Institutional investors own 99.54% of the company’s stock.

Century Communities Company Profile

Century Communities, Inc is a homebuilding company headquartered in Denver, Colorado. Founded in 2002, the company develops and constructs single-family homes and townhomes for first-time, move-up and active-adult buyers.

The company markets homes under the Century Communities and Century Complete brands. Century Communities generally offers homes through its traditional sales model, while Century Complete focuses on streamlined, value-oriented homebuying, including online purchasing in select communities.