M.D.C. (NYSE:MDC) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of M.D.C. (NYSE:MDC) in a research report released on Friday morning. The firm issued a hold rating on the construction company’s stock.

MDC has been the subject of a number of other research reports. Evercore ISI lowered M.D.C. from an outperform rating to an in-line rating and upped their price target for the company from $57.00 to $63.00 in a research report on Wednesday, January 31st. Raymond James reaffirmed a market perform rating on shares of M.D.C. in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, M.D.C. presently has an average rating of Hold and an average price target of $52.13.

M.D.C. Price Performance

MDC opened at $62.98 on Friday. The company has a market cap of $4.73 billion, a P/E ratio of 11.93 and a beta of 1.54. The business’s 50-day moving average price is $62.72 and its 200-day moving average price is $53.82. The company has a current ratio of 9.76, a quick ratio of 3.92 and a debt-to-equity ratio of 0.50. M.D.C. has a 12 month low of $36.47 and a 12 month high of $63.00.

M.D.C. (NYSE:MDC) last released its quarterly earnings results on Tuesday, January 30th. The construction company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.06. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. M.D.C. had a return on equity of 12.32% and a net margin of 8.64%. M.D.C.’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.08 EPS. On average, equities analysts expect that M.D.C. will post 5.7 EPS for the current year.

Insiders Place Their Bets

In other M.D.C. news, Director David E. Blackford sold 6,200 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $62.69, for a total transaction of $388,678.00. Following the transaction, the director now owns 13,534 shares in the company, valued at approximately $848,446.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 23.30% of the company’s stock.

Institutional Trading of M.D.C.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sound Income Strategies LLC purchased a new stake in shares of M.D.C. in the 4th quarter worth approximately $25,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of M.D.C. in the 4th quarter worth approximately $25,000. Ronald Blue Trust Inc. grew its stake in shares of M.D.C. by 100.0% in the 3rd quarter. Ronald Blue Trust Inc. now owns 640 shares of the construction company’s stock worth $26,000 after buying an additional 320 shares during the last quarter. Clear Street Markets LLC purchased a new stake in shares of M.D.C. in the 3rd quarter worth approximately $29,000. Finally, GAMMA Investing LLC purchased a new stake in M.D.C. during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

About M.D.C.

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.