LGI Homes’ (LGIH) “Neutral” Rating Reiterated at Wedbush

LGI Homes (NASDAQ:LGIH)‘s stock had its “neutral” rating reaffirmed by research analysts at Wedbush in a research note issued on Monday,Benzinga reports. They presently have a $95.00 price objective on the financial services provider’s stock. Wedbush’s price target points to a potential upside of 84.38% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Citigroup restated a “market outperform” rating on shares of LGI Homes in a research note on Wednesday, August 27th. JPMorgan Chase & Co. reduced their target price on shares of LGI Homes from $52.00 to $47.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 9th. Weiss Ratings restated a “sell (d+)” rating on shares of LGI Homes in a research report on Saturday, September 27th. Finally, JMP Securities increased their price target on shares of LGI Homes from $75.00 to $85.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 27th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $75.67.

LGI Homes Stock Down 3.1%

Shares of LGI Homes stock traded down $1.65 on Monday, hitting $51.53. 25,264 shares of the company traded hands, compared to its average volume of 339,576. LGI Homes has a 12-month low of $47.17 and a 12-month high of $118.31. The company has a quick ratio of 0.64, a current ratio of 18.18 and a debt-to-equity ratio of 0.85. The company has a market cap of $1.19 billion, a PE ratio of 7.74 and a beta of 1.77. The company has a 50-day moving average price of $59.37 and a 200 day moving average price of $57.04.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. The firm had revenue of $483.49 million during the quarter, compared to analysts’ expectations of $546.96 million. LGI Homes had a return on equity of 8.00% and a net margin of 7.63%.The business’s revenue for the quarter was down 19.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.48 earnings per share. Sell-side analysts predict that LGI Homes will post 8.46 earnings per share for the current year.

Institutional Trading of LGI Homes

Several hedge funds have recently added to or reduced their stakes in LGIH. Wasatch Advisors LP grew its stake in shares of LGI Homes by 3.4% in the second quarter. Wasatch Advisors LP now owns 1,467,855 shares of the financial services provider’s stock valued at $75,624,000 after acquiring an additional 48,795 shares in the last quarter. CDAM UK Ltd raised its position in shares of LGI Homes by 4.4% in the first quarter. CDAM UK Ltd now owns 766,210 shares of the financial services provider’s stock valued at $50,930,000 after buying an additional 32,267 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in LGI Homes by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 395,810 shares of the financial services provider’s stock valued at $26,309,000 after acquiring an additional 19,017 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of LGI Homes by 5.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock valued at $16,627,000 after acquiring an additional 12,524 shares during the period. Finally, Voss Capital LP acquired a new position in LGI Homes in the second quarter valued at about $11,592,000. 84.89% of the stock is owned by institutional investors and hedge funds.

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.