Zacks Investment Research upgraded shares of M.D.C. (NYSE:MDC) from a hold rating to a strong-buy rating in a report released on Wednesday, Zacks.com reports. They currently have $42.00 price target on the construction company’s stock.
According to Zacks, “M.D.C. Holdings, Inc. engages in homebuilding and financial service businesses in the United States. It is engaged in the construction, sale and related financing of residential housing and the acquisition and development of land for use in the Denver, Phoenix, Maryland, Virginia, mid Atlantic region, Las Vegas, Dallas, California metropolitan areas. MDC’s homebuilding subsidiaries, which operate under the name Richmond American Homes, have built and financed the American Dream. MDC’s commitment to customer satisfaction, quality and value is reflected in each home its subsidiaries build. MDC is one of the largest homebuilders in the United States. The Company’s subsidiaries also provide mortgage financing, insurance and title services, primarily for Richmond American homebuyers, through Home American Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company, respectively. “
A number of other equities analysts have also recently commented on the stock. Wedbush began coverage on shares of Uber Technologies in a research note on Wednesday, May 1st. They issued an outperform rating and a $65.00 price target for the company. ValuEngine cut shares of Intersect ENT from a buy rating to a hold rating in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. raised shares of M.D.C. from an underweight rating to a neutral rating in a research note on Monday, July 8th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $33.80.
Shares of NYSE:MDC opened at $37.24 on Wednesday. The company’s 50 day moving average price is $33.05. The stock has a market capitalization of $2.29 billion, a PE ratio of 10.50, a P/E/G ratio of 1.33 and a beta of 1.15. M.D.C. has a 12 month low of $25.14 and a 12 month high of $37.60. The company has a current ratio of 8.58, a quick ratio of 2.19 and a debt-to-equity ratio of 0.68.
M.D.C. (NYSE:MDC) last issued its quarterly earnings data on Tuesday, April 30th. The construction company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.59 by $0.05. The company had revenue of $647.28 million during the quarter, compared to analysts’ expectations of $597.26 million. M.D.C. had a net margin of 6.90% and a return on equity of 14.20%. M.D.C.’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 earnings per share. On average, equities analysts anticipate that M.D.C. will post 3.33 earnings per share for the current year.
In other M.D.C. news, Director Herbert T. Buchwald sold 15,618 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $33.51, for a total value of $523,359.18. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $502,650. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Larry A. Mizel sold 20,224 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $33.48, for a total transaction of $677,099.52. Following the completion of the transaction, the chairman now directly owns 146,182 shares of the company’s stock, valued at approximately $4,894,173.36. The disclosure for this sale can be found here. In the last three months, insiders sold 234,962 shares of company stock valued at $7,671,544. Corporate insiders own 26.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc grew its stake in M.D.C. by 0.4% in the 4th quarter. Legal & General Group Plc now owns 108,282 shares of the construction company’s stock worth $3,047,000 after buying an additional 454 shares in the last quarter. Magnus Financial Group LLC boosted its stake in shares of M.D.C. by 8.0% in the 1st quarter. Magnus Financial Group LLC now owns 7,996 shares of the construction company’s stock valued at $232,000 after purchasing an additional 592 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of M.D.C. by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 32,050 shares of the construction company’s stock valued at $901,000 after purchasing an additional 704 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of M.D.C. by 6.3% in the 1st quarter. Crossmark Global Holdings Inc. now owns 11,915 shares of the construction company’s stock valued at $346,000 after purchasing an additional 704 shares in the last quarter. Finally, Keybank National Association OH boosted its stake in shares of M.D.C. by 8.2% in the 1st quarter. Keybank National Association OH now owns 10,166 shares of the construction company’s stock valued at $295,000 after purchasing an additional 770 shares in the last quarter. 74.68% of the stock is owned by institutional investors and hedge funds.
M.DC Holdings, Inc, through its subsidiaries, engages in the homebuilding and financial service businesses. Its homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name.
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