LGI Homes, Inc. (NASDAQ:LGIH) Receives $71.67 Average Target Price from Analysts

Shares of LGI Homes, Inc. (NASDAQ:LGIH) have been given an average rating of “Hold” by the five ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $71.6667.

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of LGI Homes from $52.00 to $47.00 and set an “underweight” rating for the company in a research report on Wednesday, July 9th. Wedbush restated a “neutral” rating and set a $93.00 price objective on shares of LGI Homes in a research report on Monday, July 7th. Citigroup reiterated an “outperform” rating on shares of LGI Homes in a research report on Thursday, August 7th. Finally, JMP Securities reduced their price target on shares of LGI Homes from $140.00 to $75.00 and set a “market outperform” rating for the company in a research report on Thursday, August 7th.

LGI Homes Trading Up 7.9%

NASDAQ LGIH opened at $61.43 on Friday. The company has a quick ratio of 0.64, a current ratio of 18.18 and a debt-to-equity ratio of 0.85. LGI Homes has a 52 week low of $47.17 and a 52 week high of $125.83. The stock has a market capitalization of $1.42 billion, a PE ratio of 9.27 and a beta of 1.69. The firm has a 50 day moving average of $53.46 and a two-hundred day moving average of $62.38.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.21 by $0.15. LGI Homes had a net margin of 7.63% and a return on equity of 8.00%. The company had revenue of $483.49 million during the quarter, compared to analysts’ expectations of $546.96 million. During the same quarter in the previous year, the business posted $2.48 EPS. The firm’s revenue was down 19.8% on a year-over-year basis. As a group, research analysts expect that LGI Homes will post 8.46 EPS for the current fiscal year.

Institutional Trading of LGI Homes

Several institutional investors and hedge funds have recently bought and sold shares of LGIH. Wealth Enhancement Advisory Services LLC increased its stake in LGI Homes by 213.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,234 shares of the financial services provider’s stock valued at $680,000 after buying an additional 6,970 shares during the period. GAMMA Investing LLC increased its stake in LGI Homes by 219.1% in the 1st quarter. GAMMA Investing LLC now owns 887 shares of the financial services provider’s stock valued at $59,000 after buying an additional 609 shares during the period. Northern Trust Corp increased its stake in LGI Homes by 11.5% in the 4th quarter. Northern Trust Corp now owns 219,547 shares of the financial services provider’s stock valued at $19,628,000 after buying an additional 22,615 shares during the period. Janney Montgomery Scott LLC increased its stake in LGI Homes by 22.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,406 shares of the financial services provider’s stock valued at $226,000 after buying an additional 623 shares during the period. Finally, Tributary Capital Management LLC increased its stake in LGI Homes by 15.0% in the 1st quarter. Tributary Capital Management LLC now owns 215,556 shares of the financial services provider’s stock valued at $14,328,000 after buying an additional 28,095 shares during the period. Hedge funds and other institutional investors own 84.89% of the company’s stock.

About LGI Homes

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.