Todays Report: Today, WCI Communities Inc. (WCIC) Receives $21.19 Consensus Target Price from Brokerages

Today, WCI Communities Inc. (WCIC) Receives $21.19 Consensus Target Price from Brokerages

Shares of WCI Communities Inc. (NYSE:WCIC) have been assigned an average rating of “Hold” from the nine research firms that are currently covering the firm. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $21.19.

WCIC has been the subject of several recent analyst reports. JMP Securities initiated coverage on WCI Communities in a research note on Wednesday, August 31st. They set an “outperform” rating and a $18.77 price objective for the company. Raymond James Financial Inc. reiterated a “market perform” rating on shares of WCI Communities in a research note on Monday, October 31st. TheStreet upgraded WCI Communities from a “hold” rating to a “buy” rating in a research note on Monday, August 15th. Wedbush initiated coverage on WCI Communities in a research note on Monday, September 19th. They set a “neutral” rating and a $21.00 price objective for the company. Finally, Zacks Investment Research lowered WCI Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd.

Shares of WCI Communities (NYSE:WCIC) opened at 23.30 on Tuesday. WCI Communities has a 1-year low of $15.41 and a 1-year high of $24.97. The firm’s 50-day moving average is $23.30 and its 200-day moving average is $19.33. The stock has a market capitalization of $613.63 million, a price-to-earnings ratio of 17.92 and a beta of 1.44.

A number of hedge funds have recently made changes to their positions in WCIC. BlackRock Fund Advisors raised its stake in shares of WCI Communities by 185.3% in the third quarter. BlackRock Fund Advisors now owns 1,589,653 shares of the company’s stock worth $37,707,000 after buying an additional 1,032,517 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of WCI Communities during the second quarter worth approximately $11,620,000. Perkins Investment Management LLC raised its stake in shares of WCI Communities by 60.7% in the third quarter. Perkins Investment Management LLC now owns 1,031,932 shares of the company’s stock worth $24,477,000 after buying an additional 389,889 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of WCI Communities during the third quarter worth approximately $7,386,000. Finally, Real Estate Management Services LLC raised its stake in shares of WCI Communities by 22.3% in the second quarter. Real Estate Management Services LLC now owns 1,599,000 shares of the company’s stock worth $27,023,000 after buying an additional 291,500 shares during the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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