Wedbush analyst Jay McCanless reiterated an Outperform rating on Century Communities, telling investors in a research note that last month's acquisition of the remaining 50% of Wade Jurney expands the company even deeper into the entry-level/affordable housing space. McCanless says that, at current levels, Century Communities trades at 6.8x his FY19E adjusted EPS of $4.68 vs. the group average of 8.3x, and while he does not see a current or future catalyst for this disparity, he views the shares as undervalued at these levels. The next catalyst for shares should be the June quarter report in early August, he says. The analyst has a $42 price target on shares.

Wedbush analyst Jay McCanless lowered his price target for Century Communities to $30 from $42 solely due to his shift to a FY20 valuation range from a FY19 valuation. At current levels, the analyst believes the shares appear to have priced in a slower demand environment. He reiterates an Outperform rating on the shares.