LGI Homes (NASDAQ:LGIH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday. The firm presently has a $91.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 17.53% from the stock’s previous close.
According to Zacks, “LGI Homes, Inc. is engaged in the design and construction of entry-level homes across Texas, Arizona, Florida and Georgia. The company focuses on converting renters of apartments and single-family homes into homeowners by offering homes at affordable locations. LGI Homes, Inc. is headquartered in The Woodlands, Texas. “
LGIH has been the topic of several other research reports. TheStreet upgraded LGI Homes from a “c+” rating to a “b-” rating in a report on Monday, November 13th. JMP Securities raised their price objective on LGI Homes from $62.00 to $68.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 8th. Wedbush restated an “outperform” rating on shares of LGI Homes in a report on Saturday, September 16th. Finally, ValuEngine upgraded LGI Homes from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $59.33.
Shares of LGI Homes (NASDAQ:LGIH) opened at $77.43 on Thursday. The firm has a market capitalization of $1,670.00, a P/E ratio of 17.97, a P/E/G ratio of 1.28 and a beta of 0.27. The company has a quick ratio of 0.86, a current ratio of 8.91 and a debt-to-equity ratio of 1.04. LGI Homes has a fifty-two week low of $26.82 and a fifty-two week high of $79.55.
LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, November 7th. The financial services provider reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.10. The firm had revenue of $365.90 million for the quarter, compared to analysts’ expectations of $355.81 million. LGI Homes had a return on equity of 25.51% and a net margin of 9.26%. LGI Homes’s quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. analysts expect that LGI Homes will post 4.57 earnings per share for the current year.
In related news, CEO Eric Thomas Lipar sold 25,000 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $54.27, for a total value of $1,356,750.00. Following the transaction, the chief executive officer now directly owns 504,593 shares of the company’s stock, valued at approximately $27,384,262.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bryan Christopher Sansbury sold 23,101 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $63.28, for a total value of $1,461,831.28. The disclosure for this sale can be found here. Insiders have sold 68,101 shares of company stock worth $4,073,581 in the last 90 days. Insiders own 13.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in shares of LGI Homes by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,633 shares of the financial services provider’s stock worth $146,000 after buying an additional 543 shares during the period. SG Americas Securities LLC purchased a new position in shares of LGI Homes in the 3rd quarter worth $199,000. BNP Paribas Arbitrage SA raised its position in shares of LGI Homes by 56.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,069 shares of the financial services provider’s stock worth $204,000 after buying an additional 1,831 shares during the period. LS Investment Advisors LLC raised its position in shares of LGI Homes by 37.3% in the 3rd quarter. LS Investment Advisors LLC now owns 4,214 shares of the financial services provider’s stock worth $205,000 after buying an additional 1,145 shares during the period. Finally, Albion Financial Group UT purchased a new position in shares of LGI Homes in the 3rd quarter worth $213,000. 91.80% of the stock is currently owned by institutional investors and hedge funds.
About LGI Homes
LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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