Century Communities (NYSE:CCS) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Century Communities (NYSE:CCS) from a "hold" to a "sell"; JPMorgan also cut its price target to $49 and labeled the stock "underweight," though the Street's average rating remains Hold with an average price target of $68.33.
• In the latest quarter CCS beat EPS expectations ($0.88 vs. $0.61) but reported a 16.9% year-over-year revenue decline to $789.7 million, missing the $961.1 million consensus.
• Chairman Dale Francescon sold 100,100 shares at about $72.44 each (≈$7.25M), trimming his stake by roughly 15%.

Century Communities (NYSE:CCS - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their price target on Century Communities from $56.00 to $49.00 and set an "underweight" rating for the company in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Century Communities in a research note on Wednesday, January 21st. Citigroup started coverage on Century Communities in a research note on Wednesday, January 21st. They issued an "outperform" rating for the company. Citizens Jmp started coverage on Century Communities in a research note on Wednesday, January 21st. They issued a "market outperform" rating and a $92.00 price target for the company. Finally, Zacks Research raised Century Communities from a "strong sell" rating to a "hold" rating in a research note on Monday, March 30th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $68.33.

Century Communities Stock Up 0.7%

Shares of NYSE CCS opened at $59.72 on Friday. The firm's 50-day simple moving average is $61.58 and its 200 day simple moving average is $62.27. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 13.45 and a beta of 1.56. The company has a quick ratio of 1.08, a current ratio of 0.57 and a debt-to-equity ratio of 0.44. Century Communities has a 12-month low of $50.42 and a 12-month high of $76.00.

Century Communities (NYSE:CCS - Get Free Report) last released its earnings results on Wednesday, April 22nd. The construction company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.27. Century Communities had a net margin of 3.31% and a return on equity of 6.24%. The company had revenue of $789.67 million for the quarter, compared to the consensus estimate of $961.12 million. During the same period in the prior year, the company posted $1.36 EPS. The company's revenue was down 16.9% compared to the same quarter last year. On average, research analysts expect that Century Communities will post 4.64 earnings per share for the current fiscal year.

Insider Transactions at Century Communities

In related news, Chairman Dale Francescon sold 100,100 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was 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 directly owned 561,662 shares of the company's stock, valued at approximately $40,686,795.28. This represents a 15.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.70% of the company's stock.

Institutional Investors Weigh In On Century Communities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New South Capital Management Inc. increased its position in shares of Century Communities by 285.1% in the fourth quarter. New South Capital Management Inc. now owns 609,425 shares of the construction company's stock valued at $36,169,000 after acquiring an additional 451,187 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in Century Communities by 32.2% during the second quarter. Balyasny Asset Management L.P. now owns 1,044,604 shares of the construction company's stock valued at $58,832,000 after purchasing an additional 254,186 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Century Communities by 58.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 509,499 shares of the construction company's stock valued at $30,239,000 after purchasing an additional 186,938 shares in the last quarter. Norges Bank bought a new position in Century Communities in the fourth quarter valued at approximately $10,386,000. Finally, Wellington Management Group LLP increased its position in shares of Century Communities by 9.3% during the 4th quarter. Wellington Management Group LLP now owns 1,631,055 shares of the construction company's stock worth $96,803,000 after purchasing an additional 139,141 shares during the last quarter. 99.54% of the stock is currently owned by institutional investors and hedge funds.

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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