Century Communities (NYSE:CCS) Lowered to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded Century Communities from “strong buy” to “hold,” aligning with the broader analyst consensus rating of “Hold” and an average price target of $67.
• Century Communities opened at $63.94, with shares up 3.7%; the company reported quarterly EPS of $1.30, well above the $0.63 consensus estimate, while revenue reached $927.23 million.
• Institutional investors own 99.54% of the stock, with BlackRock, Wellington Management, Heartland Advisors and Lakewood Capital among major recent buyers.

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

Several other research analysts have also recently weighed in on the company. Wall Street Zen raised Century Communities from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. Weiss Ratings raised Century Communities from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 24th. Finally, Zelman & Associates lowered Century Communities from a "neutral" rating to an "underperform" rating in a research 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 assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $67.00.

Century Communities Stock Up 3.7%

NYSE:CCS 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 stock has a 50-day moving average price of $66.80 and a two-hundred day moving average price of $61.69. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 14.02 and a beta of 1.30. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44.

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

Institutional Trading of Century Communities

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

About Century Communities

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.

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