Zacks Investment Research upgraded shares of LGI Homes Inc. (NASDAQ:LGIH) from a sell rating to a buy rating in a research report report published on Wednesday. The firm currently has $39.00 price target on the stock.

According to Zacks, “LGI Homes, Inc. is engaged in the design and construction of entry-level homes across Texas, Arizona, Florida and Georgia. The company focuses on converting renters of apartments and single-family homes into homeowners by offering homes at affordable locations. LGI Homes, Inc. is headquartered in The Woodlands, Texas. “

Several other research analysts also recently weighed in on the company. Wells Fargo & Co. initiated coverage on LGI Homes in a research note on Wednesday, September 28th. They issued an outperform rating for the company. JMP Securities restated a buy rating on shares of LGI Homes in a research note on Saturday, July 9th. Six equities research analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and an average price target of $40.33.

Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

Shares of LGI Homes (NASDAQ:LGIH) traded down 1.74% during mid-day trading on Wednesday, hitting $34.92. 227,098 shares of the stock traded hands. The company has a market capitalization of $734.12 million, a PE ratio of 11.54 and a beta of -0.01. The company’s 50-day moving average price is $36.44 and its 200 day moving average price is $31.13. LGI Homes has a 1-year low of $18.74 and a 1-year high of $40.47.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.09. The company earned $222.72 million during the quarter, compared to the consensus estimate of $219.52 million. LGI Homes had a return on equity of 24.52% and a net margin of 8.63%. The firm’s revenue was up 40.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS. Equities research analysts forecast that LGI Homes will post $3.39 EPS for the current fiscal year.

In other news, insider Eric Thomas Lipar sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $36.66, for a total transaction of $366,600.00. Following the sale, the insider now directly owns 528,933 shares of the company’s stock, valued at approximately $19,390,683.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.50% of the company’s stock.

Several hedge funds have recently modified their holdings of LGIH. Paradigm Asset Management Co. LLC boosted its stake in shares of LGI Homes by 8.5% in the second quarter. Paradigm Asset Management Co. LLC now owns 5,100 shares of the company’s stock valued at $163,000 after buying an additional 400 shares during the period. Creative Planning boosted its stake in shares of LGI Homes by 76.8% in the second quarter. Creative Planning now owns 5,480 shares of the company’s stock valued at $175,000 after buying an additional 2,380 shares during the period. BlackRock Inc. boosted its stake in shares of LGI Homes by 621.9% in the second quarter. BlackRock Inc. now owns 7,385 shares of the company’s stock valued at $236,000 after buying an additional 6,362 shares during the period. A.R.T. Advisors LLC purchased a new stake in shares of LGI Homes during the second quarter valued at about $238,000. Finally, BlackRock Group LTD boosted its stake in shares of LGI Homes by 34.2% in the second quarter. BlackRock Group LTD now owns 7,896 shares of the company’s stock valued at $252,000 after buying an additional 2,011 shares during the period. 66.98% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Company Profile

LGI Homes, Inc is a homebuilder. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

5 Day Chart for NASDAQ:LGIH

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