Century Communities (CCS) Sets New 12-Month Low Following Analyst Downgrade

Century Communities Inc (NYSE:CCS)’s share price hit a new 52-week low during trading on Thursday after B. Riley lowered their price target on the stock from $45.00 to $37.00. B. Riley currently has a buy rating on the stock. Century Communities traded as low as $20.10 and last traded at $21.64, with a volume of 19614 shares changing hands. The stock had previously closed at $22.14.

Several other brokerages have also commented on CCS. Zacks Investment Research lowered shares of Century Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. ValuEngine lowered shares of Century Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. JPMorgan Chase & Co. lowered shares of Century Communities from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $38.50 to $31.50 in a research report on Friday, September 21st. Finally, Wedbush reissued an “outperform” rating and set a $30.00 price target (down from $42.00) on shares of Century Communities in a research report on Monday, October 29th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $34.50.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its position in Century Communities by 2.8% during the 2nd quarter. Victory Capital Management Inc. now owns 65,659 shares of the construction company’s stock worth $2,072,000 after buying an additional 1,792 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in Century Communities by 36.3% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 8,551 shares of the construction company’s stock worth $270,000 after buying an additional 2,279 shares during the last quarter. MetLife Investment Advisors LLC raised its position in Century Communities by 26.3% during the 2nd quarter. MetLife Investment Advisors LLC now owns 12,109 shares of the construction company’s stock worth $382,000 after buying an additional 2,523 shares during the last quarter. B. Riley Financial Inc. raised its position in Century Communities by 34.6% during the 2nd quarter. B. Riley Financial Inc. now owns 12,912 shares of the construction company’s stock worth $407,000 after buying an additional 3,320 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Century Communities by 18.6% during the 2nd quarter. First Trust Advisors LP now owns 27,191 shares of the construction company’s stock worth $858,000 after buying an additional 4,255 shares during the last quarter. 80.53% of the stock is owned by institutional investors.

The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market capitalization of $648.17 million, a PE ratio of 7.49 and a beta of 1.19.

Century Communities (NYSE:CCS) last posted its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.03). The business had revenue of $552.90 million for the quarter, compared to analysts’ expectations of $553.88 million. Century Communities had a return on equity of 14.84% and a net margin of 4.34%. The business’s quarterly revenue was up 47.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.73 earnings per share. On average, analysts anticipate that Century Communities Inc will post 4.38 EPS for the current year.

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About Century Communities (NYSE:CCS)

Century Communities, Inc engages in the development, design, construction, marketing, and sale of single-family attached and detached homes in metropolitan areas in California, Colorado, Georgia, Nevada, North Carolina, South Carolina, Tennessee, Texas, Utah, and Washington. It is also involved in the entitlement and development of the underlying land; and the provision of mortgage services and title services to its home buyers.

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