Century Communities Stock Surpasses Analyst Target Price: What’s Next?
In recent trading, shares of Century Communities Inc (Symbol: CCS) have surpassed the average analyst 12-month target price of $102.17, recently trading at $103.57 per share. When a stock hits an analyst’s target, they typically have two options: they can either downgrade their valuation or adjust their target price higher. The decision often varies based on the recent business developments at Century Communities. If the outlook for the company appears strong, an increase in the target price may be warranted.
The average target price for Century Communities is derived from three different analysts within the Zacks coverage universe. However, this average is not uniform. For example, one analyst has set a target as low as $90.00, while another is optimistic with a target as high as $113.00. The standard deviation among these targets is $11.557, indicating some variability in expectations.
The aim of examining the average target price is to harness the “wisdom of crowds” approach. This method combines insights from multiple analysts rather than relying on a single expert opinion. With CCS moving above that average target price of $102.17 per share, it prompts investors to reconsider their positions: could this be a stepping stone towards an even higher price, or has the stock become overvalued, suggesting it’s time to take profits? The table below summarizes the current ratings from analysts covering Century Communities Inc:
| Recent CCS Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 1 | 1 | 1 | 1 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 3 | 3 | 2 | 2 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 1 | 1 | 1 | 1 |
| Average rating: | 3.0 | 3.0 | 3.0 | 3.0 |
The average rating shown in the table ranges from 1 to 5, where 1 is a Strong Buy and 5 is a Strong Sell. Data for this article was provided by Zacks Investment Research via Quandl.com. Stay updated with the latest Zacks research report on CCS — available for free.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
