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Century Communities (CCS) Debuts in Kentucky, Boosts Footprint
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Century Communities, Inc. (CCS - Free Report) has entered the most desirable Louisville Metro area via its Century Complete brand. The company has opened three new communities in Louisville, KY, and Austin, IN.
This Colorado-based company now operates in 17 states and 40 markets across the United States under the Century Communities and Century Complete brands.
Known for offering affordable lower-priced homes, the company’s communities within the Louisville Metro area, having a price tag between the high $100s to the low $300s, will provide single-family homes.
In this regard, Greg Huff, president of Century Complete, said, "We're very excited to bring Century Complete to the Louisville area, a growing market where our beautiful yet attainable new homes—and innovative online purchase process—will give aspiring new homeowners great options to choose from.”
High-Return Century Complete Brand: A Major Growth Driver
New sales for the affordable, high-return Century Complete brand helped the company boost total new contracts by 56% to 3,120 homes at the end of second-quarter 2021. These strong sales along with record backlog of 4,446 homes valued at more than $1.8 billion provide strong visibility for 2021 and beyond. Notably, backlog grew 60% in units and 83% in value in the second quarter of 2021.
Image Source: Zacks Investment Research
Shares of the company have gained 55.2% year to date, outperforming the Zacks Building Products - Home Builders industry’s 17.1% rise. Demand for its affordable new homes, driven by favorable demographics, tight resale supply, and low interest rates, while underscoring the strength of its competitive positioning and national footprint across 30 high-growth markets, has been driving Century Communities’ growth.
Also, the company continued to make significant investments to support growth initiatives, ending the second quarter with a 65,610-lot pipeline, of which 66% are controlled, reflecting the company’s ongoing commitment to an asset-light land acquisition strategy.
The company currently carries a Zacks Rank #2 (Buy) and has an expected earnings growth rate of 119.5% for 2021. The Zacks Consensus Estimate for its 2021 earnings has moved up 18% over the past 60 days. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Key Picks
Other top-ranked stocks in the same industry include MI Homes, Inc. (MHO - Free Report) , Meritage Homes Corporation (MTH - Free Report) and KB Home (KBH - Free Report) . While MI Homes and Meritage Homes sport a Zacks Rank #1 (Strong Buy), KB Home carries a Zacks Rank #2.
MI Homes, Meritage Homes, and KB Home’s earnings for the current year are expected to rise 63.3%, 72.4%, and 99%, respectively.
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Century Communities (CCS) Debuts in Kentucky, Boosts Footprint
Century Communities, Inc. (CCS - Free Report) has entered the most desirable Louisville Metro area via its Century Complete brand. The company has opened three new communities in Louisville, KY, and Austin, IN.
This Colorado-based company now operates in 17 states and 40 markets across the United States under the Century Communities and Century Complete brands.
Known for offering affordable lower-priced homes, the company’s communities within the Louisville Metro area, having a price tag between the high $100s to the low $300s, will provide single-family homes.
In this regard, Greg Huff, president of Century Complete, said, "We're very excited to bring Century Complete to the Louisville area, a growing market where our beautiful yet attainable new homes—and innovative online purchase process—will give aspiring new homeowners great options to choose from.”
High-Return Century Complete Brand: A Major Growth Driver
New sales for the affordable, high-return Century Complete brand helped the company boost total new contracts by 56% to 3,120 homes at the end of second-quarter 2021. These strong sales along with record backlog of 4,446 homes valued at more than $1.8 billion provide strong visibility for 2021 and beyond. Notably, backlog grew 60% in units and 83% in value in the second quarter of 2021.
Image Source: Zacks Investment Research
Shares of the company have gained 55.2% year to date, outperforming the Zacks Building Products - Home Builders industry’s 17.1% rise. Demand for its affordable new homes, driven by favorable demographics, tight resale supply, and low interest rates, while underscoring the strength of its competitive positioning and national footprint across 30 high-growth markets, has been driving Century Communities’ growth.
Also, the company continued to make significant investments to support growth initiatives, ending the second quarter with a 65,610-lot pipeline, of which 66% are controlled, reflecting the company’s ongoing commitment to an asset-light land acquisition strategy.
The company currently carries a Zacks Rank #2 (Buy) and has an expected earnings growth rate of 119.5% for 2021. The Zacks Consensus Estimate for its 2021 earnings has moved up 18% over the past 60 days. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Key Picks
Other top-ranked stocks in the same industry include MI Homes, Inc. (MHO - Free Report) , Meritage Homes Corporation (MTH - Free Report) and KB Home (KBH - Free Report) . While MI Homes and Meritage Homes sport a Zacks Rank #1 (Strong Buy), KB Home carries a Zacks Rank #2.
MI Homes, Meritage Homes, and KB Home’s earnings for the current year are expected to rise 63.3%, 72.4%, and 99%, respectively.