LGI Homes (NASDAQ:LGIH) Lifted to Neutral at Wedbush

LGI Homes (NASDAQ:LGIH) was upgraded by stock analysts at Wedbush from an “underperform” rating to a “neutral” rating in a report issued on Monday, MarketBeat.com reports. The firm presently has a $125.00 price objective on the financial services provider’s stock, up from their prior price objective of $97.00. Wedbush’s price target indicates a potential upside of 19.42% from the stock’s current price.

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

LGI Homes Price Performance

Shares of NASDAQ LGIH opened at $104.67 on Monday. LGI Homes has a twelve month low of $84.00 and a twelve month high of $136.89. The stock’s 50 day moving average price is $102.83 and its 200-day moving average price is $101.36. The company has a market capitalization of $2.46 billion, a PE ratio of 13.08 and a beta of 1.95. The company has a quick ratio of 0.49, a current ratio of 12.63 and a debt-to-equity ratio of 0.78.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.24. The company had revenue of $602.50 million for the quarter, compared to analysts’ expectations of $617.44 million. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. LGI Homes’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.25 EPS. On average, equities analysts anticipate that LGI Homes will post 9.01 EPS for the current year.

Institutional Investors Weigh In On LGI Homes

A number of large investors have recently added to or reduced their stakes in LGIH. Mather Group LLC. bought a new stake in LGI Homes during the first quarter valued at about $47,000. First Horizon Advisors Inc. raised its stake in LGI Homes by 32.5% during the 2nd 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 during the period. Innealta Capital LLC purchased a new position in LGI Homes in the 2nd quarter worth approximately $39,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in LGI Homes in the 1st quarter worth approximately $52,000. Finally, Headlands Technologies LLC purchased a new stake in LGI Homes during the 1st quarter valued at approximately $130,000. Institutional investors own 84.89% of the company’s stock.

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.