Century Communities (CCS) Gets a Buy Rating from B.Riley FBR


B.Riley FBR analyst Alex Rygiel reiterated a Buy rating on Century Communities (CCS) today and set a price target of $32. The company’s shares closed yesterday at $27.77.

Rygiel observed:

“Last night (7/30), after the close, Century Communities (CCS) announced 2Q19 results which were mostly in line to better than our recently revised estimates and consensus. In addition, management raised the low end of its full-year 2019 guidance for home deliveries and home sales. Home-buyer traffic across CCS markets continues to rebound, inventory remains low and the company continues to expand into new geographies, entering its 16th and 17th states in 2Q. We remain upbeat on the macro outlook for the housing market given the low interest rates and positive economic conditions and believe that CCS is one of the most attractive small-cap homebuilders. However, we are removing CCS from the +61% appreciation in share price YTD versus the the XHB index +29% YTD. We reiterate our Buy rating and price target of $32.”

According to TipRanks.com, Rygiel is a 4-star analyst with an average return of 6.6% and a 59.0% success rate. Rygiel covers the Basic Materials sector, focusing on stocks such as Granite Construction Inc, Tutor Perini Corp, and Quanta Services.

Century Communities has an analyst consensus of Strong Buy, with a price target consensus of $32.67.

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Century Communities’ market cap is currently $841.9M and has a P/E ratio of 9.06. The company has a Price to Book ratio of 0.96.

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock.

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Century Communities, Inc. engages in the development, design, construction, marketing and sale of single-family attached and detached homes. It operates through the following business segments: West, Mountain, Texas, Southeast, and Wade Jurney Homes. The West segment refers to Southern California, Central Valley, Bay Area and Washington.

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