MDC (NYSE:MDC)‘s stock had its “buy” rating reiterated by equities research analysts at Raymond James in a report released on Tuesday, MarketBeat reports. They presently have a $39.00 target price on the construction company’s stock, up from their previous target price of $35.00. Raymond James’ target price indicates a potential upside of 26.09% from the company’s current price.
Several other brokerages also recently weighed in on MDC. Zacks Investment Research upgraded MDC from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective for the company in a research report on Thursday, February 1st. UBS restated a “sell” rating and set a $32.00 target price (up previously from $30.00) on shares of MDC in a report on Wednesday, January 17th. Zelman & Associates upgraded MDC from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Bank of America upped their target price on MDC from $31.00 to $34.00 and gave the company an “underperform” rating in a report on Friday, February 2nd. Finally, Wedbush restated a “neutral” rating and set a $30.00 target price (down previously from $33.00) on shares of MDC in a report on Friday, May 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. MDC presently has a consensus rating of “Hold” and a consensus price target of $33.75.
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Shares of MDC stock opened at $30.93 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 9.79 and a quick ratio of 2.68. The firm has a market capitalization of $1.81 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 0.58 and a beta of 1.46.
MDC (NYSE:MDC) last announced its quarterly earnings data on Thursday, May 3rd. The construction company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.15. MDC had a return on equity of 11.99% and a net margin of 6.04%. The firm had revenue of $607.69 million during the quarter, compared to the consensus estimate of $584.58 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. equities research analysts forecast that MDC will post 3.22 EPS for the current fiscal year.
In related news, Director David E. Blackford sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $28.18, for a total transaction of $70,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Nathaniel Martin sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $31.91, for a total value of $287,190.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 224,963 shares of company stock valued at $7,182,020. 27.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of MDC. Optimum Investment Advisors bought a new position in MDC in the first quarter worth $123,000. Parsec Financial Management Inc. bought a new position in MDC in the fourth quarter worth $203,000. Amalgamated Bank bought a new position in MDC in the fourth quarter worth $207,000. Quantitative Systematic Strategies LLC bought a new position in MDC in the fourth quarter worth $260,000. Finally, Meadow Creek Investment Management LLC raised its holdings in MDC by 46.8% in the fourth quarter. Meadow Creek Investment Management LLC now owns 8,344 shares of the construction company’s stock worth $266,000 after purchasing an additional 2,660 shares in the last quarter. Institutional investors and hedge funds own 96.16% of the company’s stock.
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.