Century Communities (NYSE:CCS) Stock Rating Lowered by B. Riley Financial

Key Points

• B. Riley Financial$64 (from $75), implying just about a 0.6% upside from the current share price.
• Century Communities reported a quarter with an EPS beat ($0.88 vs. $0.61) but missed revenue expectations as sales fell 16.9% year-over-year, signalling weaker topline performance despite profitability.
• Chairman Dale Francescon sold 100,100 shares (about $7.25M), reducing his stake by 15.13%, while institutional and hedge fund ownership remains extremely high at 99.54%.

Century Communities (NYSE:CCS - Get Free Report) was downgraded by analysts at B. Riley Financial from a "buy" rating to a "neutral" rating in a report issued on Thursday, Marketbeat Ratings reports. They currently have a $64.00 price objective on the construction company's stock, down from their prior price objective of $75.00. B. Riley Financial's target price points to a potential upside of 0.60% from the stock's current price.

A number of other research analysts also recently issued reports on CCS. Citizens Jmp assumed coverage on Century Communities in a research note on Wednesday, January 21st. They issued a "market outperform" rating and a $92.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Century Communities from $56.00 to $49.00 and set an "underweight" rating for the company in a report on Monday, February 2nd. Zacks Research upgraded Century Communities from a "strong sell" rating to a "hold" rating in a report on Monday, March 30th. Citigroup assumed coverage on shares of Century Communities in a research report on Wednesday, January 21st. They set an "outperform" rating for the company. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Century Communities in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Century Communities has a consensus rating of "Hold" and an average price target of $73.25.

Century Communities Price Performance

Shares of CCS opened at $63.62 on Thursday. The business has a 50-day simple moving average of $62.15 and a two-hundred day simple moving average of $62.31. Century Communities has a 12-month low of $50.42 and a 12-month high of $76.00. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.85 billion, a PE ratio of 13.09 and a beta of 1.56.

Century Communities (NYSE:CCS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.27. The company had revenue of $789.67 million for the quarter, compared to analysts' expectations of $961.12 million. Century Communities had a net margin of 3.58% and a return on equity of 6.87%. Century Communities's revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 earnings per share. Analysts anticipate that Century Communities will post 4.64 earnings per share for the current fiscal year.

Insider Transactions at Century Communities

In other Century Communities news, Chairman Dale Francescon sold 100,100 shares of the business's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $72.44, for a total transaction of $7,251,244.00. Following the completion of the sale, the chairman owned 561,662 shares in the company, valued at approximately $40,686,795.28. The trade was a 15.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 13.70% of the company's stock.

Hedge Funds Weigh In On Century Communities

A number of hedge funds have recently added to or reduced their stakes in CCS. Summit Global Investments bought a new position in shares of Century Communities in the third quarter valued at approximately $1,162,000. Denali Advisors LLC purchased a new stake in Century Communities in the 3rd quarter valued at $1,375,000. Allspring Global Investments Holdings LLC lifted its stake in Century Communities by 179.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 134,441 shares of the construction company's stock valued at $8,619,000 after acquiring an additional 86,341 shares in the last quarter. New South Capital Management Inc. bought a new position in Century Communities during the 3rd quarter valued at $10,028,000. Finally, Pier Capital LLC boosted its holdings in Century Communities by 56.7% during the 3rd quarter. Pier Capital LLC now owns 153,224 shares of the construction company's stock worth $9,710,000 after acquiring an additional 55,415 shares during the last quarter. Institutional investors and hedge funds own 99.54% of the company's stock.

About Century Communities

Century Communities, Inc is a national homebuilder and land developer headquartered in Greenwood Village, Colorado. The company is engaged in the acquisition, development, construction and sale of single- and multi-family residential homes, offering a range of floor plans and design options to homebuyers. In addition to its core homebuilding activities, Century Communities provides ancillary services such as mortgage financing, title and closing services, and insurance products through its wholly owned subsidiaries, aiming to deliver a comprehensive homebuying experience.

Founded in 2009, Century Communities rapidly expanded through both organic growth and strategic land acquisitions, positioning itself in high-growth markets across the United States.

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