Raymond James analyst Buck Horne maintained a Buy rating on MDC Holdings (NYSE: MDC) today and set a price target of $39. The company’s shares closed yesterday at $31.80.
According to TipRanks.com, Horne is a 3-star analyst with an average return of 2.9% and a 61.0% success rate. Horne covers the Financial sector, focusing on stocks such as Apartment Investment & Management, Mid-America Apartment, and Essex Property Trust.
Currently, the analyst consensus on MDC Holdings is Moderate Buy and the average price target is $37, representing a 16.4% upside.
In a report issued on May 4, UBS also reiterated a Buy rating on the stock with a $35 price target.
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Based on MDC Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $38.54 million. In comparison, last year the company had a net profit of $22.14 million.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock.
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M.D.C. Holdings, Inc. provides homebuilding and financial services. Its homebuilding operations consist of wholly owned subsidiary companies that generally purchase finished lots or develop lots to the extent necessary for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes. The company’s financial services operations consist of mortgage loans, insurance coverage, re-insures Allegiant claims; third-party insurance products, and title agency services. M.D.C. Holdings was founded by Larry A. Mizel in 1972 and is headquartered in Denver, CO.
