ValuEngine upgraded shares of M.D.C. (NYSE:MDC) from a hold rating to a buy rating in a research report sent to investors on Monday morning, ValuEngine reports.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. raised shares of M.D.C. from an underweight rating to a neutral rating in a report on Monday. Finally, Wedbush began coverage on shares of Uber Technologies in a report on Wednesday, May 1st. They issued an outperform rating and a $65.00 price objective for the company. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. M.D.C. has an average rating of Buy and a consensus target price of $33.80.
Shares of M.D.C. stock traded down $0.12 during trading hours on Monday, reaching $36.48. 397,582 shares of the company’s stock were exchanged, compared to its average volume of 412,259. M.D.C. has a 1 year low of $25.14 and a 1 year high of $36.89. The stock has a market capitalization of $2.22 billion, a P/E ratio of 9.93, a P/E/G ratio of 1.43 and a beta of 1.15. The firm has a fifty day moving average price of $32.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 8.58 and a quick ratio of 2.19.
M.D.C. (NYSE:MDC) last released its earnings results on Tuesday, April 30th. The construction company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. M.D.C. had a net margin of 6.90% and a return on equity of 14.20%. The business had revenue of $647.28 million during the quarter, compared to analyst estimates of $597.26 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that M.D.C. will post 3.16 EPS for the current fiscal year.
In related news, Chairman Larry A. Mizel sold 35,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $32.46, for a total value of $1,136,100.00. Following the completion of the sale, the chairman now owns 160,958 shares of the company’s stock, valued at $5,224,696.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Nathaniel Martin sold 7,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $31.79, for a total transaction of $222,530.00. The disclosure for this sale can be found here. Insiders sold 234,962 shares of company stock valued at $7,671,544 in the last three months. 26.30% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in MDC. Penserra Capital Management LLC acquired a new stake in M.D.C. in the first quarter valued at approximately $56,000. Quantamental Technologies LLC increased its stake in M.D.C. by 2,807.7% in the first quarter. Quantamental Technologies LLC now owns 5,641 shares of the construction company’s stock valued at $164,000 after purchasing an additional 5,447 shares during the last quarter. 6 Meridian purchased a new position in M.D.C. in the first quarter valued at approximately $207,000. CIBC Asset Management Inc purchased a new position in M.D.C. in the first quarter valued at approximately $212,000. Finally, Magnus Financial Group LLC acquired a new stake in shares of M.D.C. during the fourth quarter worth $208,000. 74.68% of the stock is owned by hedge funds and other institutional investors.
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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