Seaport Res Ptn Upgrades LGI Homes (NASDAQ:LGIH) to Hold

LGI Homes (NASDAQ:LGIHGet Free Report) was upgraded by equities researchers at Seaport Res Ptn from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts have also issued reports on LGIH. Wedbush reiterated a “neutral” rating and issued a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. JMP Securities reiterated a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, LGI Homes presently has a consensus rating of “Hold” and a consensus target price of $118.33.

Check Out Our Latest Stock Analysis on LGIH

LGI Homes Stock Down 1.8 %

LGI Homes stock opened at $92.20 on Monday. The company has a 50-day simple moving average of $96.20 and a 200-day simple moving average of $103.87. The firm has a market capitalization of $2.17 billion, a P/E ratio of 11.06 and a beta of 2.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. LGI Homes has a one year low of $82.94 and a one year high of $130.75.

LGI Homes (NASDAQ:LGIHGet Free Report) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.54 by $0.41. The business had revenue of $651.85 million during the quarter, compared to analyst estimates of $645.27 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.84 earnings per share. As a group, equities analysts expect that LGI Homes will post 8.46 earnings per share for the current year.

Hedge Funds Weigh In On LGI Homes

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in shares of LGI Homes by 131.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock worth $13,222,000 after purchasing an additional 63,346 shares during the last quarter. Citigroup Inc. grew its stake in shares of LGI Homes by 60.9% in the 3rd quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider’s stock worth $4,954,000 after purchasing an additional 15,818 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of LGI Homes by 5.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,232 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 176 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of LGI Homes in the 3rd quarter worth approximately $334,000. Finally, Creative Planning acquired a new position in shares of LGI Homes in the 3rd quarter worth approximately $375,000. Institutional investors and hedge funds own 84.89% of the company’s stock.

LGI Homes Company Profile

(Get Free Report)

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.

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