LGI Homes, Inc. (NASDAQ:LGIH)‘s stock had its “neutral” rating restated by research analysts at Wedbush in a note issued to investors on Tuesday, July 4th, StockTargetPrices.com reports. They currently have a $35.00 target price on the financial services provider’s stock. Wedbush’s target price indicates a potential downside of 24.39% from the stock’s current price.

LGIH has been the subject of several other research reports. ValuEngine lowered LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research lowered LGI Homes from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. Finally, Wells Fargo & Company upgraded LGI Homes from an “underperform” rating to a “market perform” rating and set a $33.00 price objective for the company in a research note on Tuesday, May 16th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $39.00.

Shares of LGI Homes (NASDAQ:LGIH) traded up 2.46% during mid-day trading on Tuesday, hitting $47.43. The stock had a trading volume of 724,796 shares. LGI Homes has a 12 month low of $26.82 and a 12 month high of $48.23. The stock’s 50-day moving average is $40.89 and its 200 day moving average is $33.82. The company has a market cap of $1.02 billion, a PE ratio of 14.24 and a beta of 0.07.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. LGI Homes had a return on equity of 22.09% and a net margin of 8.95%. The firm had revenue of $162.91 million during the quarter, compared to analyst estimates of $161.68 million. During the same quarter in the previous year, the business earned $0.57 EPS. LGI Homes’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities research analysts forecast that LGI Homes will post $4.18 earnings per share for the current fiscal year.

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In other LGI Homes news, CEO Eric Thomas Lipar sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $42.59, for a total transaction of $425,900.00. Following the completion of the sale, the chief executive officer now directly owns 524,175 shares in the company, valued at approximately $22,324,613.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. 13.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of LGIH. Heartland Advisors Inc. bought a new position in shares of LGI Homes during the first quarter valued at $23,805,000. Neumeier Poma Investment Counsel LLC boosted its position in shares of LGI Homes by 30.6% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 787,550 shares of the financial services provider’s stock valued at $26,706,000 after buying an additional 184,750 shares in the last quarter. Pictet Asset Management Ltd. boosted its position in shares of LGI Homes by 467.7% in the second quarter. Pictet Asset Management Ltd. now owns 215,227 shares of the financial services provider’s stock valued at $6,973,000 after buying an additional 177,316 shares in the last quarter. Boston Advisors LLC boosted its position in shares of LGI Homes by 352.5% in the first quarter. Boston Advisors LLC now owns 201,781 shares of the financial services provider’s stock valued at $6,842,000 after buying an additional 157,192 shares in the last quarter. Finally, Quantum Capital Management LLC NJ bought a new position in shares of LGI Homes during the first quarter valued at $4,091,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

About LGI Homes

LGI Homes, Inc is a homebuilder and land developer. 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 operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

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