LGI Homes, Inc. (NASDAQ:LGIH) Given Average Rating of “Hold” by Brokerages

Shares of LGI Homes, Inc. (NASDAQ:LGIH) have earned a consensus recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $75.6667.

Several research analysts have recently issued reports on the stock. JMP Securities upped their price target on shares of LGI Homes from $75.00 to $85.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 27th. JPMorgan Chase & Co. cut their price target on shares of LGI Homes from $52.00 to $47.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 9th. Wedbush reaffirmed a “neutral” rating and set a $95.00 price target on shares of LGI Homes in a research report on Friday, September 5th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of LGI Homes in a research report on Wednesday, August 27th.

Hedge Funds Weigh In On LGI Homes

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP boosted its position in shares of LGI Homes by 3.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,467,855 shares of the financial services provider’s stock worth $75,624,000 after purchasing an additional 48,795 shares in the last quarter. CDAM UK Ltd raised its holdings in shares of LGI Homes by 4.4% in the 1st quarter. CDAM UK Ltd now owns 766,210 shares of the financial services provider’s stock worth $50,930,000 after acquiring an additional 32,267 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 worth $26,309,000 after acquiring an additional 19,017 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of LGI Homes by 5.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock worth $16,627,000 after acquiring an additional 12,524 shares during the last quarter. Finally, Voss Capital LP acquired a new stake in shares of LGI Homes in the 2nd quarter worth about $11,592,000. Institutional investors own 84.89% of the company’s stock.

LGI Homes Trading Up 1.4%

Shares of LGIH stock opened at $52.01 on Friday. The company has a current ratio of 18.18, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85. The stock has a market cap of $1.20 billion, a P/E ratio of 7.84 and a beta of 1.75. The stock has a 50 day simple moving average of $59.85 and a 200 day simple moving average of $57.93. LGI Homes has a 1 year low of $47.17 and a 1 year high of $120.53.

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

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.