LGI Homes (NASDAQ:LGIH) Upgraded by Seaport Res Ptn to “Hold” Rating

Seaport Res Ptn upgraded shares of LGI Homes (NASDAQ:LGIH) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks.com reports.

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

LGI Homes Price Performance

Shares of NASDAQ LGIH opened at $89.80 on Monday. LGI Homes has a fifty-two week low of $82.94 and a fifty-two week high of $130.75. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 10.77 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. The firm’s 50-day simple moving average is $95.96 and its 200 day simple moving average is $103.77.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business had revenue of $651.85 million for the quarter, compared to analysts’ expectations of $645.27 million. During the same quarter last year, the firm earned $2.84 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, research analysts anticipate that LGI Homes will post 8.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LGI Homes

Several hedge funds have recently modified their holdings of the company. KBC Group NV raised its holdings in shares of LGI Homes by 51.6% in the 4th quarter. KBC Group NV now owns 1,110 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 378 shares during the period. Blue Trust Inc. raised its holdings in shares of LGI Homes by 112.9% in the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 184 shares during the period. Inspire Investing LLC raised its holdings in shares of LGI Homes by 28.8% in the 4th quarter. Inspire Investing LLC now owns 4,493 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 1,005 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of LGI Homes by 19.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 8,212 shares of the financial services provider’s stock worth $734,000 after purchasing an additional 1,357 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings 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 period. 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.