LGI Homes, Inc. (NASDAQ:LGIH) was upgraded by Wedbush from a “neutral” rating to an “outperform” rating in a research report issued on Thursday. The brokerage presently has a $49.00 price objective on the financial services provider’s stock. Wedbush’s price target suggests a potential upside of 9.13% from the stock’s current price.

A number of other research firms have also recently weighed in on LGIH. J P Morgan Chase & Co cut LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research report on Wednesday, August 9th. Deutsche Bank AG raised their price objective on LGI Homes from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research cut LGI Homes from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 12th. BidaskClub cut LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 25th. Finally, ValuEngine cut LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. LGI Homes presently has an average rating of “Buy” and a consensus price target of $47.00.

LGI Homes (LGIH) opened at 44.90 on Thursday. The stock has a market cap of $970.51 million, a PE ratio of 11.92 and a beta of 0.09. The stock has a 50 day moving average price of $44.63 and a 200 day moving average price of $36.24. LGI Homes has a 1-year low of $26.82 and a 1-year high of $49.95.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.12. The firm had revenue of $324.20 million during the quarter, compared to analysts’ expectations of $317.63 million. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. The business’s quarterly revenue was up 45.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 EPS. On average, analysts predict that LGI Homes will post $4.26 EPS for the current fiscal year.

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In related news, CEO Eric Thomas Lipar sold 10,000 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $42.59, for a total value of $425,900.00. Following the completion of the transaction, the chief executive officer now owns 524,175 shares in the company, valued at approximately $22,324,613.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bryan Christopher Sansbury sold 25,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $46.30, for a total value of $1,157,500.00. Following the completion of the transaction, the director now owns 159,551 shares of the company’s stock, valued at approximately $7,387,211.30. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in LGIH. LS Investment Advisors LLC raised its position in LGI Homes by 414.6% in the first quarter. LS Investment Advisors LLC now owns 3,103 shares of the financial services provider’s stock worth $105,000 after buying an additional 2,500 shares during the last quarter. Victory Capital Management Inc. raised its position in LGI Homes by 85.3% in the first quarter. Victory Capital Management Inc. now owns 3,090 shares of the financial services provider’s stock worth $105,000 after buying an additional 1,422 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in LGI Homes by 14.2% in the first quarter. BNP Paribas Arbitrage SA now owns 3,238 shares of the financial services provider’s stock worth $110,000 after buying an additional 402 shares during the last quarter. Mason Street Advisors LLC raised its position in LGI Homes by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,981 shares of the financial services provider’s stock worth $135,000 after buying an additional 260 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in LGI Homes by 82.4% in the second quarter. State of Alaska Department of Revenue now owns 3,393 shares of the financial services provider’s stock worth $136,000 after buying an additional 1,533 shares during the last quarter. Institutional investors and hedge funds own 93.49% 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.

Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

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