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

LGI Homes (NASDAQ:LGIH) was upgraded by analysts at Seaport Res Ptn from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

LGIH has been the topic of several other research reports. JMP Securities restated a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a research note on Friday, January 10th. Wedbush restated a “neutral” rating and issued a $115.00 price target (down from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $118.33.

LGI Homes Stock Down 1.8 %

LGI Homes stock opened at $92.20 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. LGI Homes has a fifty-two week low of $82.94 and a fifty-two week high of $130.75. The firm has a fifty day moving average price of $96.20 and a two-hundred day moving average price of $103.87. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 11.06 and a beta of 2.02.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.41. The business 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 firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.84 EPS. As a group, analysts forecast that LGI Homes will post 8.46 earnings per share for the current year.

Hedge Funds Weigh In On LGI Homes

Hedge funds and other institutional investors have recently made changes to their positions in the business. River Road Asset Management LLC increased its stake in LGI Homes by 45.9% in the third quarter. River Road Asset Management LLC now owns 695,455 shares of the financial services provider’s stock valued at $82,425,000 after acquiring an additional 218,923 shares during the period. Holocene Advisors LP boosted its holdings in LGI Homes by 386.2% during the third quarter. Holocene Advisors LP now owns 130,968 shares of the financial services provider’s stock valued at $15,522,000 after purchasing an additional 104,030 shares in the last quarter. JPMorgan Chase & Co. grew its stake 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 valued at $13,222,000 after purchasing an additional 63,346 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of LGI Homes in the 3rd quarter worth approximately $6,859,000. Finally, Disciplined Growth Investors Inc. MN lifted its position in shares of LGI Homes by 3.7% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 939,504 shares of the financial services provider’s stock worth $111,350,000 after buying an additional 33,306 shares during the period. 84.89% of the stock is owned by institutional investors.

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.