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

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

Several other research analysts have also issued reports on the company. Wedbush started coverage on Uber Technologies in a research report on Wednesday, May 1st. They issued an outperform rating and a $65.00 target price for the company. Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $33.80.

Shares of NYSE:MDC opened at $36.48 on Monday. 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 P/E/G ratio of 1.43 and a beta of 1.15. The stock has a 50 day moving average price of $32.94. 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 announced its earnings results on Tuesday, April 30th. The construction company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm 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 company earned $0.63 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. On average, analysts forecast that M.D.C. will post 3.16 earnings per share for the current fiscal year.

In related news, Director Herbert T. Buchwald sold 30,618 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $32.38, for a total transaction of $991,410.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Siegel sold 27,128 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $31.94, for a total value of $866,468.32. Following the transaction, the director now directly owns 30,618 shares of the company’s stock, valued at approximately $977,938.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 234,962 shares of company stock valued at $7,671,544. 26.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Penserra Capital Management LLC purchased a new stake in M.D.C. during the 1st quarter valued at $56,000. Quantamental Technologies LLC boosted its stake in M.D.C. by 2,807.7% during the 1st 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 stake in M.D.C. during the 1st quarter valued at $207,000. Magnus Financial Group LLC purchased a new stake in M.D.C. during the 4th quarter valued at $208,000. Finally, CIBC Asset Management Inc purchased a new stake in M.D.C. during the 1st quarter valued at $212,000. 74.68% of the stock is owned by institutional investors.

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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