Analysts Set LGI Homes, Inc. (NASDAQ:LGIH) Price Target at $72.75

Shares of LGI Homes, Inc. (NASDAQ:LGIH) have earned an average recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $72.75.

Several brokerages recently weighed in on LGIH. Weiss Ratings reissued a “sell (d)” rating on shares of LGI Homes in a research note on Friday, May 22nd. Zacks Research raised LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price target on shares of LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Finally, Wall Street Zen upgraded LGI Homes from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th.

LGI Homes Stock Down 1.6%

LGI Homes stock opened at $57.12 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 18.56. The stock’s fifty day moving average is $55.99 and its two-hundred day moving average is $50.19. LGI Homes has a fifty-two week low of $33.55 and a fifty-two week high of $69.50. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 18.73 and a beta of 1.82.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.22. LGI Homes had a net margin of 4.22% and a return on equity of 3.80%. The company had revenue of $319.74 million during the quarter, compared to analysts’ expectations of $328.22 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its position in shares of LGI Homes by 58.7% during the first quarter. Royal Bank of Canada now owns 4,721 shares of the financial services provider’s stock worth $313,000 after buying an additional 1,746 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of LGI Homes by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,502 shares of the financial services provider’s stock valued at $831,000 after buying an additional 621 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of LGI Homes by 5.3% during the first quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock valued at $16,627,000 after purchasing an additional 12,524 shares during the last quarter. Russell Investments Group Ltd. grew its stake in LGI Homes by 106.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after buying an additional 305 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of LGI Homes by 19.0% during the second quarter. Invesco Ltd. now owns 85,400 shares of the financial services provider’s stock worth $4,400,000 after acquiring an additional 13,611 shares during the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

About LGI Homes

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.