JPMorgan Chase & Co. Cuts Century Communities (NYSE:CCS) Price Target to $45.00

Key Points

• JPMorgan Chase cut its price target for Century Communities from $49 to $45 and kept an "underweight" rating, implying roughly an 18.95% downside from the prior close.
• Century beat Q earnings estimates with $0.88 EPS but revenue fell 16.9% year‑over‑year and missed expectations, and the stock slid about 6.0% to $55.52 on above‑average volume amid mixed analyst ratings and a consensus "Hold" with a $67 target.

Century Communities (NYSE:CCS - Get Free Report) had its target price lowered by investment analysts at JPMorgan Chase & Co. from $49.00 to $45.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "underweight" rating on the construction company's stock. JPMorgan Chase & Co.'s target price would indicate a potential downside of 18.95% from the stock's previous close.

CCS has been the topic of a number of other research reports. B. Riley Financial cut shares of Century Communities from a "buy" rating to a "neutral" rating and cut their price target for the company from $75.00 to $64.00 in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Century Communities in a research report on Wednesday, January 21st. Citizens Jmp assumed coverage on shares of Century Communities in a research report on Wednesday, January 21st. They set a "market outperform" rating and a $92.00 price target on the stock. Wall Street Zen cut shares of Century Communities from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Citigroup initiated coverage on shares of Century Communities in a research report on Wednesday, January 21st. They set an "outperform" rating on the stock. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.00.

Century Communities Trading Down 6.0%

CCS traded down $3.57 during trading on Wednesday, reaching $55.52. 381,832 shares of the stock traded hands, compared to its average volume of 276,668. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $1.60 billion, a PE ratio of 12.50 and a beta of 1.56. The stock's 50-day moving average is $60.98 and its 200 day moving average is $62.34. 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 issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.27. The business had revenue of $789.67 million for the quarter, compared to analysts' expectations of $961.12 million. Century Communities had a net margin of 3.31% and a return on equity of 6.24%. The business's quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 earnings per share. Equities analysts anticipate that Century Communities will post 3.84 earnings per share for the current year.

Insider Activity

In other news, Chairman Dale Francescon sold 100,100 shares of the stock in a transaction dated 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 transaction, the chairman owned 561,662 shares of the company's stock, valued at $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 is available through this link. 13.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Century Communities

Institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC raised its holdings in shares of Century Communities by 207.6% in the 4th quarter. Parallel Advisors LLC now owns 609 shares of the construction company's stock worth $36,000 after acquiring an additional 411 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Century Communities by 175.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 730 shares of the construction company's stock worth $41,000 after acquiring an additional 465 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Century Communities in the 4th quarter worth about $70,000. Jones Financial Companies Lllp raised its holdings in shares of Century Communities by 1,513.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the construction company's stock worth $81,000 after acquiring an additional 1,135 shares during the last quarter. Finally, State of Wyoming raised its holdings in shares of Century Communities by 37.3% in the 3rd quarter. State of Wyoming now owns 1,644 shares of the construction company's stock worth $104,000 after acquiring an additional 447 shares during the last quarter. Institutional investors and hedge funds own 99.54% of the company's stock.

Century Communities Company Profile

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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