M.D.C. (MDC) Upgraded at Raymond James Financial

M.D.C. (NYSE:MDC) was upgraded by equities research analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm presently has a $35.00 price target on the construction company’s stock. Raymond James Financial’s price target points to a potential upside of 15.63% from the company’s current price. The analysts noted that the move was a valuation call.

A number of other research firms have also commented on MDC. ValuEngine lowered M.D.C. from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. UBS Group began coverage on M.D.C. in a report on Wednesday, October 25th. They issued a “sell” rating and a $34.00 target price for the company. Citigroup reduced their target price on M.D.C. from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Zacks Investment Research raised M.D.C. from a “hold” rating to a “strong-buy” rating and set a $38.00 target price for the company in a report on Thursday, February 1st. Finally, Bank of America lifted their target price on M.D.C. from $31.00 to $34.00 and gave the stock an “underperform” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $33.71.

M.D.C. (NYSE:MDC) opened at $30.27 on Tuesday. The stock has a market capitalization of $1,674.72, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.65 and a beta of 1.36. M.D.C. has a one year low of $28.12 and a one year high of $37.45. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.34 and a current ratio of 10.01.

M.D.C. (NYSE:MDC) last announced its quarterly earnings data on Thursday, February 1st. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.25). The company had revenue of $704.26 million for the quarter, compared to analysts’ expectations of $722.48 million. M.D.C. had a net margin of 5.50% and a return on equity of 11.00%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. equities research analysts forecast that M.D.C. will post 2.91 EPS for the current fiscal year.

In related news, Director David Siegel sold 2,500 shares of M.D.C. stock in a transaction on Friday, December 8th. The stock was sold at an average price of $31.83, for a total value of $79,575.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herbert T. Buchwald sold 28,350 shares of M.D.C. stock in a transaction on Friday, December 15th. The stock was sold at an average price of $31.52, for a total value of $893,592.00. The disclosure for this sale can be found here. 25.30% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of MDC. Amalgamated Bank bought a new stake in shares of M.D.C. in the second quarter worth $202,000. Parsec Financial Management Inc. bought a new stake in shares of M.D.C. in the fourth quarter worth $203,000. Quantitative Systematic Strategies LLC bought a new stake in shares of M.D.C. in the fourth quarter worth $260,000. Sawgrass Asset Management LLC bought a new stake in shares of M.D.C. in the third quarter worth $262,000. Finally, Meadow Creek Investment Management LLC grew its holdings in shares of M.D.C. 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 acquiring an additional 2,660 shares during the period. 73.84% of the stock is owned by institutional investors.

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M.D.C. Company Profile

M.DC Holdings, Inc is engaged in two primary operations, including homebuilding and financial services. The Company’s segments include West, including segments located in Arizona, California, Nevada and Washington; Mountain, including segments located in Colorado and Utah; East, including segments located in Virginia, Florida and Maryland, which includes Pennsylvania and New Jersey; mortgage operations, including HomeAmerican Mortgage Corporation, and Other, which includes Allegiant Insurance Company, Inc, StarAmerican Insurance Ltd., American Home Insurance Agency, Inc and American Home Title and Escrow Company.

Analyst Recommendations for M.D.C. (NYSE:MDC)

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