LGI Homes (NASDAQ:LGIH) Upgraded by StockNews.com to “Hold”

LGI Homes (NASDAQ:LGIH) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

A number of other brokerages have also recently issued reports on LGIH. JMP Securities boosted their price objective on LGI Homes from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. TheStreet lowered shares of LGI Homes from a “b-” rating to a “c+” rating in a research report on Thursday, October 19th. JPMorgan Chase & Co. upped their price target on shares of LGI Homes from $90.00 to $105.00 and gave the company an “underweight” rating in a research note on Monday, August 7th. BTIG Research upgraded shares of LGI Homes from a “sell” rating to a “neutral” rating in a research note on Monday, October 2nd. Finally, Wedbush increased their target price on LGI Homes from $89.00 to $97.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $116.25.

LGI Homes Stock Up 6.5 %

LGI Homes stock opened at $106.60 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 9.31 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $2.51 billion, a P/E ratio of 13.88 and a beta of 1.80. The firm has a 50 day moving average price of $103.92 and a 200-day moving average price of $118.13. LGI Homes has a twelve month low of $80.29 and a twelve month high of $141.91.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, October 31st. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.88. The business had revenue of $617.50 million during the quarter, compared to the consensus estimate of $625.30 million. LGI Homes had a return on equity of 10.58% and a net margin of 8.10%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the business posted $3.85 earnings per share. As a group, equities analysts predict that LGI Homes will post 8.03 EPS for the current year.

Institutional Trading of LGI Homes

A number of hedge funds and other institutional investors have recently bought and sold shares of LGIH. Dark Forest Capital Management LP bought a new position in LGI Homes in the 1st quarter valued at $27,000. WealthPLAN Partners LLC purchased a new stake in shares of LGI Homes in the first quarter worth $32,000. Financial Management Professionals Inc. bought a new stake in LGI Homes during the third quarter valued at $42,000. Strs Ohio purchased a new position in LGI Homes during the second quarter worth about $67,000. Finally, Allspring Global Investments Holdings LLC increased its stake in LGI Homes by 20.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 89.43% 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 institutions looking to acquire single-family rental properties.