JPMorgan Chase & Co. lowered shares of M.D.C. (NYSE:MDC) from a neutral rating to an underweight rating in a research note published on Friday, MarketBeat.com reports. The brokerage currently has $32.00 price target on the construction company’s stock, down from their prior price target of $38.00.

Several other research analysts have also recently weighed in on MDC. ValuEngine cut M.D.C. from a hold rating to a sell rating in a research report on Tuesday, June 5th. Zacks Investment Research cut M.D.C. from a strong-buy rating to a hold rating in a research report on Wednesday, July 18th. Bank of America raised M.D.C. from an underperform rating to a buy rating and upped their price objective for the stock from $36.00 to $42.00 in a research report on Thursday, August 2nd. Finally, Wedbush reduced their price objective on M.D.C. from $34.00 to $33.00 and set a neutral rating for the company in a research report on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $35.57.

MDC stock opened at $30.05 on Friday. The company has a quick ratio of 2.49, a current ratio of 9.59 and a debt-to-equity ratio of 0.72. The stock has a market cap of $1.75 billion, a PE ratio of 11.65, a PEG ratio of 0.45 and a beta of 1.44. M.D.C. has a fifty-two week low of $26.45 and a fifty-two week high of $37.45.

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

In related news, Chairman Larry A. Mizel sold 20,000 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $32.62, for a total transaction of $652,400.00. Following the sale, the chairman now owns 131,867 shares in the company, valued at $4,301,501.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Larry A. Mizel sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $33.15, for a total value of $331,500.00. Following the sale, the chairman now owns 121,867 shares in the company, valued at approximately $4,039,891.05. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $1,637,300 in the last quarter. 27.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management raised its holdings in M.D.C. by 49.8% during the second quarter. LSV Asset Management now owns 2,220,833 shares of the construction company’s stock worth $68,335,000 after acquiring an additional 737,965 shares in the last quarter. Sun Life Financial INC bought a new stake in M.D.C. in the second quarter valued at approximately $140,000. Sorin Capital Management LLC bought a new stake in M.D.C. in the first quarter valued at approximately $1,726,000. Schwab Charles Investment Management Inc. raised its stake in M.D.C. by 13.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 388,631 shares of the construction company’s stock valued at $11,959,000 after buying an additional 44,769 shares during the period. Finally, Baltimore Capital Management Inc. raised its stake in M.D.C. by 14.5% in the second quarter. Baltimore Capital Management Inc. now owns 50,575 shares of the construction company’s stock valued at $1,556,000 after buying an additional 6,400 shares during the period. Institutional investors and hedge funds own 77.54% of the company’s stock.

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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