Century Communities (CCS) Continues Expansion Spree in Tucson
Century Complete, a Century Communities, Inc. CCS brand, expanded its Arizona footprint in the Tucson market. The national leader in online homebuying has unveiled two new communities in the city that have abundant outdoor recreation, rich culture and history and educational institutions like the University of Arizona.
Through its "Buy Now" process, the company has introduced Cottonwood Bluffs and Water Crest. The communities have affordable and contemporary ranch-style floor plans with granite countertops, stainless steel appliances and more.
Shares of this homebuilder gained 3.12% in the trading session on May 17, 2022.
Century Complete: Major Growth Driver
Century Complete occupies the leading position in the online homebuying market in the country. The company is optimistic about its online homebuying brand and expects Century Complete, which is 100% entry-level focused, to be the primary driver of organic growth in 2022 and beyond.
Century Complete acquires only finished lots and hence needs limited capital investment in new markets, thereby yielding quicker asset returns and higher returns on investment. Century Complete has been able to organically expand into new markets, including Jacksonville, Gainesville, the Florida Panhandle, Louisville, Kentucky, College Station and Dallas-Fort Worth, Texas and Northwest Indiana in the past year.
Shares of the company have marginally underperformed the Zacks Building Products - Home Builders industry in the year to date (YTD) period. Earnings estimates for 2022 have moved 13.8% up in the past month, reflecting analysts’ faith in the company’s prospects.
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Demand for its affordable new homes, driven by favorable demographics, tight home supply, and strength of its competitive positioning and national footprint across high-growth markets has been driving Century Communities’ growth.
Zacks Rank & Key Picks
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Beazer Homes USA, Inc. BZH currently sports a Zacks Rank #1. This Atlanta-based homebuilder continues to gain from solid operational execution and the continued strength of the housing market.
Beazer Homes’ earnings are expected to grow 48.9% in fiscal 2022.
NVR, Inc. NVR currently carries a Zacks Rank #2 (Buy). The company is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings, all of which are primarily constructed on a pre-sold basis. To serve homebuilding customers, NVR operates a mortgage banking and title services business. NVR operates in two business segments: Homebuilding and Mortgage Banking.
NVR’s expected earnings growth rate for the current year is 68.4%.
TRI Pointe Group Inc. TPH currently carries a Zacks Rank #1. This Irvine, CA-based homebuilder designs, constructs, and sells single-family detached and attached homes in the United States. Robust demand and pricing and improved operating leverage have been driving TRI Pointe's performance. Cost-cutting initiatives implemented earlier this year and focus on entry-level buyers have been adding to the positives.
TRI Pointe’s earnings for 2022 are expected to grow 29.6%.
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