M.D.C. (NYSE:MDC) Raised to Neutral at JPMorgan Chase & Co.

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JPMorgan Chase & Co. upgraded shares of M.D.C. (NYSE:MDC) from an underweight rating to a neutral rating in a research note published on Monday, Briefing.com Automated Import reports.

A number of other equities analysts have also weighed in on the company. Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. Wedbush assumed coverage on Uber Technologies in a research note on Wednesday, May 1st. They issued an outperform rating and a $65.00 target price on the stock. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. M.D.C. presently has an average rating of Buy and a consensus target price of $33.80.

NYSE:MDC opened at $36.48 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.19 and a current ratio of 8.58. M.D.C. has a 52-week low of $25.14 and a 52-week high of $36.89. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 1.43 and a beta of 1.15. The company’s fifty day moving average is $32.94.

M.D.C. (NYSE:MDC) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. M.D.C. had a return on equity of 14.20% and a net margin of 6.90%. The company had revenue of $647.28 million for the quarter, compared to analyst estimates of $597.26 million. During the same period in the previous year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts predict that M.D.C. will post 3.16 EPS for the current fiscal year.

In other M.D.C. news, Director Herbert T. Buchwald sold 30,618 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $32.38, for a total value of $991,410.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Larry A. Mizel sold 8,872 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $31.78, for a total value of $281,952.16. Following the completion of the transaction, the chairman now owns 134,830 shares of the company’s stock, valued at $4,284,897.40. The disclosure for this sale can be found here. Insiders sold a total of 234,962 shares of company stock worth $7,671,544 over the last 90 days. Corporate insiders own 26.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC purchased a new position in shares of M.D.C. in the 1st quarter worth about $56,000. Quantamental Technologies LLC boosted its holdings in shares of M.D.C. by 2,807.7% in the 1st quarter. Quantamental Technologies LLC now owns 5,641 shares of the construction company’s stock worth $164,000 after purchasing an additional 5,447 shares in the last quarter. 6 Meridian purchased a new position in shares of M.D.C. in the 1st quarter worth about $207,000. CIBC Asset Management Inc purchased a new position in shares of M.D.C. in the 1st quarter worth about $212,000. Finally, Magnus Financial Group LLC purchased a new position in shares of M.D.C. in the 4th quarter worth about $208,000. Hedge funds and other institutional investors own 74.68% of the company’s stock.

M.D.C. Company Profile

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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