LGI Homes (NASDAQ:LGIH) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Wednesday, January 8th, BidAskClub reports.
LGIH has been the topic of a number of other research reports. BTIG Research upped their target price on LGI Homes from $62.00 to $65.00 and gave the company a “sell” rating in a research report on Monday, September 23rd. Wells Fargo & Co upped their target price on LGI Homes from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Zacks Investment Research upgraded LGI Homes from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. ValuEngine upgraded LGI Homes from a “strong sell” rating to a “sell” rating in a research report on Friday, November 29th. Finally, JPMorgan Chase & Co. lowered LGI Homes from an “overweight” rating to a “neutral” rating and upped their target price for the company from $77.00 to $84.50 in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $83.70.
Shares of LGIH stock traded down $0.22 on Wednesday, hitting $78.72. The stock had a trading volume of 13,171 shares, compared to its average volume of 232,937. The company has a market cap of $1.76 billion, a PE ratio of 12.41 and a beta of 0.44. The company has a quick ratio of 1.16, a current ratio of 14.90 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average price of $72.84 and a 200 day moving average price of $76.12. LGI Homes has a one year low of $52.16 and a one year high of $89.00.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.04. LGI Homes had a return on equity of 22.07% and a net margin of 9.43%. The business had revenue of $483.10 million for the quarter, compared to analyst estimates of $486.83 million. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The company’s revenue was up 27.0% on a year-over-year basis. Equities research analysts expect that LGI Homes will post 6.84 EPS for the current year.
In related news, Director Bryan Christopher Sansbury sold 9,200 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $72.00, for a total value of $662,400.00. Following the completion of the transaction, the director now directly owns 17,353 shares of the company’s stock, valued at approximately $1,249,416. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ryan Edone sold 1,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $73.45, for a total value of $110,175.00. Following the completion of the transaction, the director now directly owns 28,125 shares of the company’s stock, valued at $2,065,781.25. The disclosure for this sale can be found here. Corporate insiders own 13.40% of the company’s stock.
A number of large investors have recently modified their holdings of the business. New York State Teachers Retirement System grew its holdings in LGI Homes by 1.5% in the 3rd quarter. New York State Teachers Retirement System now owns 13,119 shares of the financial services provider’s stock valued at $1,093,000 after buying an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of LGI Homes by 21.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,187 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 206 shares during the period. Prudential Financial Inc. grew its holdings in shares of LGI Homes by 0.8% during the 2nd quarter. Prudential Financial Inc. now owns 30,256 shares of the financial services provider’s stock worth $2,161,000 after purchasing an additional 246 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of LGI Homes during the 3rd quarter worth $25,000. Finally, Brookstone Capital Management grew its holdings in shares of LGI Homes by 4.7% during the 3rd quarter. Brookstone Capital Management now owns 7,356 shares of the financial services provider’s stock worth $613,000 after purchasing an additional 332 shares during the period. Institutional investors own 96.37% 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.