LGI Homes’ (LGIH) Neutral Rating Reiterated at Wedbush

LGI Homes (NASDAQ:LGIH)‘s stock had its “neutral” rating reissued by Wedbush in a research report issued to clients and investors on Wednesday, RTT News reports. They presently have a $125.00 price target on the financial services provider’s stock. Wedbush’s price target points to a potential upside of 19.13% from the company’s previous close.

Separately, JPMorgan Chase & Co. lowered their price objective on LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, LGI Homes presently has an average rating of “Hold” and an average price target of $126.00.

LGI Homes Trading Down 5.6 %

Shares of NASDAQ:LGIH traded down $6.23 during trading on Wednesday, reaching $104.93. 26,131 shares of the company were exchanged, compared to its average volume of 210,583. The firm has a market capitalization of $2.47 billion, a PE ratio of 12.76 and a beta of 1.97. The business’s fifty day simple moving average is $110.42 and its 200-day simple moving average is $102.51. LGI Homes has a 12-month low of $84.00 and a 12-month high of $136.89. The company has a debt-to-equity ratio of 0.78, a current ratio of 12.63 and a quick ratio of 0.49.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.53 by $0.42. The firm had revenue of $651.85 million during the quarter, compared to analyst estimates of $645.27 million. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. LGI Homes’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.84 EPS. On average, research analysts anticipate that LGI Homes will post 8.82 EPS for the current year.

Institutional Investors Weigh In On LGI Homes

Several hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. lifted its holdings in LGI Homes by 32.5% during the second quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 108 shares in the last quarter. Innealta Capital LLC acquired a new position in LGI Homes in the 2nd quarter valued at $39,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of LGI Homes in the third quarter valued at about $43,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of LGI Homes in the first quarter valued at about $52,000. Finally, KBC Group NV boosted its position in LGI Homes by 29.8% during the third quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 168 shares during the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Company Profile

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.