The UCP Inc. (UCP) Raised to “Hold” at Zacks Investment Research

The UCP Inc. (UCP) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of UCP Inc. (NYSE:UCP) from a sell rating to a hold rating in a research report released on Tuesday.

According to Zacks, “UCP Inc. operates as a homebuilder and land developer. It operates primarily in Northern California and the Puget Sound area of Washington State. The Company builds and markets a diverse offering of single-family homes through its wholly-owned subsidiary, Benchmark Communities. UCP Inc. is based in San Jose, California. “

UCP (NYSE:UCP) opened at 11.85 on Tuesday. The firm has a market cap of $93.75 million, a price-to-earnings ratio of 17.79 and a beta of 1.44. UCP has a one year low of $5.22 and a one year high of $12.75. The stock’s 50 day moving average price is $11.53 and its 200-day moving average price is $9.43.

UCP (NYSE:UCP) last posted its earnings results on Monday, October 31st. The company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The firm had revenue of $93.70 million for the quarter, compared to analyst estimates of $83.52 million. UCP had a return on equity of 2.79% and a net margin of 1.51%. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. Analysts forecast that UCP will post $0.35 earnings per share for the current year.

In other news, major shareholder Buckingham Capital Management sold 44,208 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $12.02, for a total value of $531,380.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 57.04% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. bought a new stake in UCP during the second quarter valued at about $104,000. California State Teachers Retirement System bought a new stake in UCP during the second quarter valued at about $136,000. Spark Investment Management LLC raised its stake in UCP by 2.5% in the third quarter. Spark Investment Management LLC now owns 29,000 shares of the company’s stock valued at $255,000 after buying an additional 700 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in UCP by 7.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 68,641 shares of the company’s stock valued at $605,000 after buying an additional 4,536 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in UCP by 127.8% in the second quarter. Bank of New York Mellon Corp now owns 23,393 shares of the company’s stock valued at $188,000 after buying an additional 13,122 shares during the last quarter. Institutional investors own 79.12% of the company’s stock.

About UCP

UCP, Inc is a homebuilder and land developer with a focus on residential land acquisition, development and entitlement, as well as home design, construction and sales. The Company operates in two segments: homebuilding and land development. The homebuilding and land segments include two geographic regions: West and Southeast.

Get a free copy of the Zacks research report on UCP (UCP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Related posts

Leave a Comment