LGI Homes (NASDAQ:LGIH) Price Target Raised to $48.50

LGI Homes (NASDAQ:LGIH) had its price target increased by JPMorgan Chase & Co. from $47.00 to $48.50 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on LGIH. Weiss Ratings reissued a “sell (d+)” rating on shares of LGI Homes in a research report on Wednesday, October 8th. Capital One Financial set a $60.00 price objective on shares of LGI Homes in a research report on Thursday, October 9th. JMP Securities boosted their price objective on shares of LGI Homes from $75.00 to $85.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 27th. Wedbush reissued a “neutral” rating and set a $95.00 price objective on shares of LGI Homes in a research report on Monday, October 6th. Finally, Citigroup restated a “market outperform” rating on shares of LGI Homes in a report on Wednesday, August 27th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $72.13.

LGI Homes Stock Down 2.0%

Shares of NASDAQ LGIH opened at $45.22 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 18.18 and a debt-to-equity ratio of 0.85. LGI Homes has a 52 week low of $42.69 and a 52 week high of $116.53. The firm’s fifty day moving average is $57.60 and its 200 day moving average is $55.78. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 6.82 and a beta of 1.77.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. The business had revenue of $483.49 million for the quarter, compared to the consensus estimate of $546.96 million. LGI Homes had a net margin of 7.63% and a return on equity of 8.00%. The company’s quarterly revenue was down 19.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.48 EPS. On average, equities research analysts expect that LGI Homes will post 8.46 earnings per share for the current year.

Hedge Funds Weigh In On LGI Homes

A number of hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP boosted its stake in LGI Homes by 3.4% in the 2nd quarter. Wasatch Advisors LP now owns 1,467,855 shares of the financial services provider’s stock worth $75,624,000 after purchasing an additional 48,795 shares in the last quarter. CDAM UK Ltd lifted its stake in LGI Homes by 4.4% during the 1st quarter. CDAM UK Ltd now owns 766,210 shares of the financial services provider’s stock valued at $50,930,000 after acquiring an additional 32,267 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in LGI Homes by 5.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 395,810 shares of the financial services provider’s stock valued at $26,309,000 after acquiring an additional 19,017 shares during the period. Goldman Sachs Group Inc. lifted its stake in LGI Homes by 5.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock valued at $16,627,000 after acquiring an additional 12,524 shares during the period. Finally, Voss Capital LP bought a new position in LGI Homes during the 2nd quarter valued at about $11,592,000. 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.