LGI Homes (NASDAQ:LGIH) Raised to “Buy” at ValuEngine

LGI Homes (NASDAQ:LGIH) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday, ValuEngine reports.

LGIH has been the topic of a number of other reports. BidaskClub downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. JMP Securities set a $79.00 price target on LGI Homes and gave the company a “buy” rating in a report on Tuesday, April 9th. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Wells Fargo & Co upped their price target on Wingstop from $76.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. LGI Homes has an average rating of “Buy” and a consensus target price of $70.50.

Shares of NASDAQ LGIH traded up $2.51 during trading on Friday, reaching $75.94. The company had a trading volume of 268,782 shares, compared to its average volume of 298,752. LGI Homes has a 12-month low of $37.16 and a 12-month high of $76.25. The stock has a market cap of $1.66 billion, a PE ratio of 11.96, a PEG ratio of 0.98 and a beta of 0.57. The business’s 50-day moving average is $71.44. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.35 and a current ratio of 16.86.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, May 7th. The financial services provider reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.13). LGI Homes had a return on equity of 23.28% and a net margin of 9.67%. The company had revenue of $287.60 million during the quarter, compared to analysts’ expectations of $288.06 million. During the same period in the prior year, the company posted $1.10 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. Research analysts forecast that LGI Homes will post 6.69 EPS for the current year.

In other news, insider Michael Larry Snider sold 13,170 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $68.11, for a total transaction of $897,008.70. Following the transaction, the insider now directly owns 175,544 shares of the company’s stock, valued at $11,956,301.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven Randal Smith sold 2,500 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $74.49, for a total value of $186,225.00. Following the completion of the transaction, the director now directly owns 12,407 shares in the company, valued at approximately $924,197.43. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,670 shares of company stock worth $1,792,334. Corporate insiders own 13.40% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. lifted its holdings in LGI Homes by 514.4% in the fourth quarter. Macquarie Group Ltd. now owns 3,883 shares of the financial services provider’s stock valued at $176,000 after acquiring an additional 3,251 shares during the period. Gotham Asset Management LLC bought a new position in LGI Homes in the fourth quarter valued at about $210,000. 6 Meridian bought a new position in LGI Homes in the first quarter valued at about $217,000. Everence Capital Management Inc. bought a new position in LGI Homes in the first quarter valued at about $225,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in LGI Homes by 64,083.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,851 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 3,845 shares during the period. 94.44% of the stock is currently owned by institutional investors.

About LGI Homes

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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