JMP Securities Reaffirms “Market Outperform” Rating for LGI Homes (NASDAQ:LGIH)

LGI Homes (NASDAQ:LGIH)‘s stock had its “market outperform” rating reiterated by equities research analysts at JMP Securities in a report released on Friday,Benzinga reports. They currently have a $160.00 price target on the financial services provider’s stock. JMP Securities’ price objective would indicate a potential upside of 92.10% from the stock’s previous close.

Several other research firms have also issued reports on LGIH. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target (down from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their target price on shares of LGI Homes from $100.00 to $82.00 and set an “underweight” rating on the stock in a report on Friday, December 13th.

LGI Homes Stock Down 3.0 %

Shares of LGIH stock opened at $83.29 on Friday. The firm’s fifty day moving average price is $99.70 and its two-hundred day moving average price is $103.64. LGI Homes has a 1 year low of $82.94 and a 1 year high of $130.75. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $1.96 billion, a P/E ratio of 9.99 and a beta of 2.02.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.54 by $0.41. The firm had revenue of $651.85 million during the quarter, compared to analysts’ expectations of $645.27 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.84 earnings per share. On average, equities analysts predict that LGI Homes will post 8.72 EPS for the current fiscal year.

Institutional Investors Weigh In On LGI Homes

A number of large investors have recently added to or reduced their stakes in LGIH. Harbor Capital Advisors Inc. increased its holdings in shares of LGI Homes by 19.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 8,212 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 1,357 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of LGI Homes by 131.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock worth $13,222,000 after buying an additional 63,346 shares during the period. Sanctuary Advisors LLC acquired a new position in LGI Homes in the 3rd quarter valued at about $334,000. Geode Capital Management LLC raised its holdings in LGI Homes by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 497,039 shares of the financial services provider’s stock valued at $58,920,000 after acquiring an additional 7,129 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its position in LGI Homes by 3.7% during the third quarter. Disciplined Growth Investors Inc. MN now owns 939,504 shares of the financial services provider’s stock worth $111,350,000 after acquiring an additional 33,306 shares during the last quarter. Institutional investors own 84.89% of the company’s stock.

About LGI Homes

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.