Century Communities (NYSE:CCS) Upgraded to Neutral at JPMorgan Chase & Co.

Century Communities (NYSE:CCS) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Friday, MarketBeat Ratings reports. The firm presently has a $97.00 price target on the construction company’s stock, down from their prior price target of $110.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 17.23% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Wedbush upped their price objective on shares of Century Communities from $90.00 to $96.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. B. Riley reissued a “buy” rating and issued a $119.00 price target (up from $113.00) on shares of Century Communities in a research note on Thursday, October 24th. Finally, StockNews.com downgraded Century Communities from a “hold” rating to a “sell” rating in a report on Thursday, December 5th.

Century Communities Trading Down 2.4 %

NYSE CCS opened at $82.74 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.44. The stock’s 50-day simple moving average is $91.07 and its two-hundred day simple moving average is $91.82. Century Communities has a twelve month low of $74.76 and a twelve month high of $108.42. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 8.25 and a beta of 1.87.

Century Communities (NYSE:CCS) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.16. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Century Communities had a return on equity of 13.79% and a net margin of 7.44%. Century Communities’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period last year, the firm posted $2.58 EPS. Research analysts forecast that Century Communities will post 10.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Century Communities

Several hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. grew its position in shares of Century Communities by 444.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 362,227 shares of the construction company’s stock worth $37,302,000 after buying an additional 295,729 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Century Communities in the second quarter valued at $7,419,000. Westwood Holdings Group Inc. boosted its holdings in Century Communities by 11.2% in the second quarter. Westwood Holdings Group Inc. now owns 883,197 shares of the construction company’s stock valued at $72,122,000 after acquiring an additional 89,310 shares in the last quarter. Marshall Wace LLP increased its position in Century Communities by 84.9% during the 2nd quarter. Marshall Wace LLP now owns 143,771 shares of the construction company’s stock valued at $11,740,000 after purchasing an additional 66,029 shares during the period. Finally, Algert Global LLC raised its holdings in Century Communities by 86.9% in the 2nd quarter. Algert Global LLC now owns 123,307 shares of the construction company’s stock worth $10,069,000 after purchasing an additional 57,341 shares in the last quarter. 99.54% of the stock is owned by institutional investors.

Century Communities Company Profile

Century Communities, Inc, together with its subsidiaries, engages in the design, development, construction, marketing, and sale of single-family attached and detached homes. It is also involved in the entitlement and development of the underlying land; and provision of mortgage, title, and insurance services to its homebuyers.