LGI Homes (NASDAQ:LGIH) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of LGI Homes (NASDAQ:LGIH) from a hold rating to a buy rating in a report released on Wednesday morning, Zacks.com reports. The brokerage currently has $83.00 price objective on the financial services provider’s 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. “

LGIH has been the subject of several other research reports. BidaskClub downgraded shares of Weyco Group from a sell rating to a strong sell rating in a report on Saturday, July 13th. JMP Securities set a $79.00 price objective on shares of LGI Homes and gave the stock a buy rating in a report on Tuesday, April 9th. ValuEngine raised shares of Valmont Industries from a sell rating to a hold rating in a report on Friday, July 12th. Finally, Wells Fargo & Co upped their price objective on shares of Wingstop from $76.00 to $84.00 and gave the stock an outperform rating in a report on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. LGI Homes currently has a consensus rating of Buy and a consensus target price of $71.10.



LGIH stock opened at $71.54 on Wednesday. The firm has a market capitalization of $1.65 billion, a P/E ratio of 12.24, a P/E/G ratio of 0.98 and a beta of 0.57. The business has a 50-day moving average of $71.95. LGI Homes has a fifty-two week low of $37.16 and a fifty-two week high of $76.93. The company has a quick ratio of 1.35, a current ratio of 16.86 and a debt-to-equity ratio of 1.00.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.13). The company had revenue of $287.60 million during the quarter, compared to analyst estimates of $288.06 million. LGI Homes had a return on equity of 23.28% and a net margin of 9.67%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.10 EPS. On average, sell-side analysts expect that LGI Homes will post 6.65 EPS for the current fiscal year.

In other LGI Homes news, Director Steven Randal Smith sold 2,500 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $74.49, for a total value of $186,225.00. Following the sale, the director now directly owns 12,407 shares in the company, valued at $924,197.43. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric Thomas Lipar sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $70.91, for a total transaction of $709,100.00. Following the completion of the sale, the chief executive officer now owns 544,509 shares in the company, valued at $38,611,133.19. The disclosure for this sale can be found here. 13.40% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. NEXT Financial Group Inc acquired a new position in shares of LGI Homes during the second quarter worth approximately $198,000. Sheets Smith Wealth Management acquired a new position in shares of LGI Homes in the second quarter valued at $546,000. Xact Kapitalforvaltning AB acquired a new position in shares of LGI Homes in the second quarter valued at $233,000. Scout Investments Inc. raised its stake in shares of LGI Homes by 65.1% in the second quarter. Scout Investments Inc. now owns 105,558 shares of the financial services provider’s stock valued at $7,540,000 after purchasing an additional 41,621 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of LGI Homes by 100.7% in the first quarter. First Trust Advisors LP now owns 63,298 shares of the financial services provider’s stock valued at $3,813,000 after purchasing an additional 31,761 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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