UCP, Inc. (UCP) Downgraded to Sell at Zacks Investment Research

UCP, Inc. (NYSE:UCP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

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. “

Shares of UCP (NYSE:UCP) traded down 1.19% during midday trading on Wednesday, reaching $12.45. 8,446 shares of the company’s stock traded hands. UCP has a 52 week low of $5.22 and a 52 week high of $12.75. The stock’s 50 day moving average is $11.34 and its 200-day moving average is $9.27. The company has a market capitalization of $98.49 million, a PE ratio of 18.69 and a beta of 1.44.

UCP (NYSE:UCP) last released its quarterly earnings results on Monday, October 31st. The company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.01. UCP had a return on equity of 2.79% and a net margin of 1.51%. The business earned $93.70 million during the quarter, compared to analysts’ expectations of $83.52 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, analysts forecast that UCP will post $0.35 earnings per share for the current fiscal year.

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In other news, major shareholder Buckingham Capital Management sold 44,208 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $12.02, for a total transaction of $531,380.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 57.04% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors boosted its position in UCP by 736.2% in the second quarter. BlackRock Fund Advisors now owns 218,811 shares of the company’s stock valued at $1,755,000 after buying an additional 192,643 shares during the last quarter. Vanguard Group Inc. boosted its position in UCP by 54.0% in the second quarter. Vanguard Group Inc. now owns 316,889 shares of the company’s stock valued at $2,542,000 after buying an additional 111,131 shares during the last quarter. State Street Corp acquired a new position in UCP during the second quarter valued at about $384,000. BlackRock Institutional Trust Company N.A. boosted its position in UCP by 213.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 64,105 shares of the company’s stock valued at $514,000 after buying an additional 43,638 shares during the last quarter. Finally, BlackRock Investment Management LLC boosted its position in UCP by 2,109.6% in the second quarter. BlackRock Investment Management LLC now owns 31,685 shares of the company’s stock valued at $254,000 after buying an additional 30,251 shares during the last quarter. Hedge funds and other 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.

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