M.D.C. (NYSE:MDC) Downgraded to “Underweight” at Wells Fargo & Company

M.D.C. (NYSE:MDCGet Rating) was downgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research note issued on Friday, The Fly reports. They presently have a $27.00 price objective on the construction company’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 8.91% from the company’s previous close.

MDC has been the subject of several other reports. JPMorgan Chase & Co. lowered their price target on M.D.C. from $49.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, April 13th. StockNews.com initiated coverage on M.D.C. in a report on Thursday, March 31st. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $47.67.

Shares of M.D.C. stock opened at $29.64 on Friday. M.D.C. has a 1 year low of $29.03 and a 1 year high of $56.53. The business has a 50-day moving average of $36.80 and a two-hundred day moving average of $43.67. The company has a market capitalization of $2.11 billion, a P/E ratio of 3.56 and a beta of 1.34. The company has a debt-to-equity ratio of 0.61, a current ratio of 7.20 and a quick ratio of 1.49.

M.D.C. (NYSE:MDCGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The construction company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.12. M.D.C. had a return on equity of 24.22% and a net margin of 11.24%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company earned $1.51 earnings per share. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. On average, equities analysts anticipate that M.D.C. will post 10.65 EPS for the current fiscal year.

In related news, Director David E. Blackford sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $38.12, for a total transaction of $114,360.00. Following the completion of the transaction, the director now directly owns 19,748 shares of the company’s stock, valued at $752,793.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Herbert T. Buchwald sold 9,950 shares of the stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $37.64, for a total value of $374,518.00. Following the transaction, the director now directly owns 10 shares of the company’s stock, valued at $376.40. The disclosure for this sale can be found here. 24.20% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Verition Fund Management LLC acquired a new stake in shares of M.D.C. in the first quarter valued at approximately $1,135,000. Aurora Investment Counsel lifted its position in shares of M.D.C. by 10.5% in the first quarter. Aurora Investment Counsel now owns 29,762 shares of the construction company’s stock valued at $1,126,000 after buying an additional 2,840 shares during the last quarter. Verity Asset Management Inc. lifted its position in shares of M.D.C. by 26.2% in the first quarter. Verity Asset Management Inc. now owns 23,091 shares of the construction company’s stock valued at $874,000 after buying an additional 4,801 shares during the last quarter. Davidson Capital Management Inc. lifted its position in shares of M.D.C. by 16.2% in the first quarter. Davidson Capital Management Inc. now owns 27,554 shares of the construction company’s stock valued at $1,043,000 after buying an additional 3,835 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of M.D.C. in the first quarter valued at approximately $72,000. 83.86% of the stock is owned by institutional investors.

About M.D.C. (Get Rating)

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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