Century Communities (NYSE:CCS) PT Raised to $39.00 at Wedbush

Century Communities (NYSE:CCS) had its price target lifted by Wedbush from $31.00 to $39.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage currently has a neutral rating on the construction company’s stock. Wedbush also issued estimates for Century Communities’ Q3 2020 earnings at $0.87 EPS, Q4 2020 earnings at $1.29 EPS, FY2020 earnings at $4.17 EPS, Q1 2021 earnings at $0.70 EPS, Q2 2021 earnings at $1.05 EPS, Q3 2021 earnings at $1.17 EPS, Q4 2021 earnings at $1.55 EPS, FY2021 earnings at $4.47 EPS, Q1 2022 earnings at $0.79 EPS, Q2 2022 earnings at $1.13 EPS and FY2022 earnings at $5.00 EPS.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their price target on Century Communities from $15.50 to $24.00 and gave the stock a neutral rating in a report on Wednesday, May 6th. Zacks Investment Research upgraded Century Communities from a hold rating to a strong-buy rating and set a $35.00 price target for the company in a report on Tuesday, July 7th. Finally, B. Riley upped their price target on Century Communities from $30.00 to $38.00 in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Century Communities currently has an average rating of Hold and a consensus price target of $36.00.

Shares of NYSE:CCS opened at $35.62 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.41 and a debt-to-equity ratio of 0.79. Century Communities has a twelve month low of $9.04 and a twelve month high of $39.31. The stock’s 50 day moving average is $31.77 and its 200-day moving average is $27.25. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 8.13 and a beta of 1.93.

Century Communities (NYSE:CCS) last issued its earnings results on Tuesday, July 28th. The construction company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.48. Century Communities had a return on equity of 13.57% and a net margin of 5.25%. The company had revenue of $776.44 million for the quarter, compared to analyst estimates of $572.70 million. Equities research analysts anticipate that Century Communities will post 3.9 earnings per share for the current fiscal year.

In other news, CFO David L. Messenger sold 35,000 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $31.97, for a total transaction of $1,118,950.00. Following the completion of the transaction, the chief financial officer now owns 132,688 shares in the company, valued at approximately $4,242,035.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert J. Francescon sold 100,000 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $27.65, for a total value of $2,765,000.00. Following the transaction, the chief executive officer now owns 291,370 shares of the company’s stock, valued at approximately $8,056,380.50. The disclosure for this sale can be found here. 13.10% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of CCS. Marshall Wace LLP purchased a new stake in Century Communities during the 1st quarter worth about $322,000. Goldman Sachs Group Inc. lifted its holdings in Century Communities by 19.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 139,637 shares of the construction company’s stock worth $3,819,000 after purchasing an additional 23,194 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Century Communities by 20.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,004,912 shares of the construction company’s stock worth $27,484,000 after purchasing an additional 169,366 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Century Communities by 124.4% during the 4th quarter. UBS Asset Management Americas Inc. now owns 75,438 shares of the construction company’s stock worth $2,063,000 after purchasing an additional 41,818 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Century Communities by 484.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 45,825 shares of the construction company’s stock valued at $1,253,000 after acquiring an additional 37,989 shares in the last quarter. Institutional investors own 92.40% of the company’s stock.

About Century Communities

Century Communities, Inc engages in the design, development, construction, marketing, and sale of single-family attached and detached homes in metropolitan areas in Alabama, Arizona, California, Colorado, Florida, Georgia, Indiana, Nevada, North Carolina, Ohio, South Carolina, Tennessee, Texas, Utah, and Washington.

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