Zurcher Kantonalbank Zurich Cantonalbank Has $398,000 Position in LGI Homes, Inc. (NASDAQ:LGIH)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 28.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,984 shares of the financial services provider’s stock after buying an additional 1,308 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in LGI Homes were worth $398,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LGIH. Sterling Capital Management LLC grew its position in shares of LGI Homes by 801.5% during the 4th quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider’s stock worth $55,000 after buying an additional 545 shares during the period. GAMMA Investing LLC grew its position in shares of LGI Homes by 219.1% during the 1st quarter. GAMMA Investing LLC now owns 887 shares of the financial services provider’s stock worth $59,000 after buying an additional 609 shares during the period. CWM LLC lifted its holdings in shares of LGI Homes by 50.3% during the 1st quarter. CWM LLC now owns 1,178 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 394 shares in the last quarter. NBC Securities Inc. lifted its holdings in shares of LGI Homes by 111,600.0% during the 1st quarter. NBC Securities Inc. now owns 2,234 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 2,232 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of LGI Homes by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 141 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LGIH. Citigroup reiterated an “outperform” rating on shares of LGI Homes in a report on Thursday. JPMorgan Chase & Co. cut their price objective on LGI Homes from $52.00 to $47.00 and set an “underweight” rating on the stock in a report on Wednesday, July 9th. JMP Securities cut their price objective on LGI Homes from $140.00 to $75.00 and set a “market outperform” rating on the stock in a report on Thursday. Finally, Wedbush reiterated a “neutral” rating and set a $93.00 price objective on shares of LGI Homes in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $71.67.

LGI Homes Trading Down 0.2%

NASDAQ LGIH opened at $57.11 on Friday. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 8.61 and a beta of 1.69. The stock’s 50 day moving average price is $53.06 and its two-hundred day moving average price is $63.03. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.54 and a current ratio of 18.18. LGI Homes, Inc. has a 52 week low of $47.17 and a 52 week high of $125.83.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, August 5th. The financial services provider reported $1.36 EPS for the quarter, beating the consensus estimate of $1.21 by $0.15. The firm had revenue of $483.49 million for the quarter, compared to analysts’ expectations of $546.96 million. LGI Homes had a return on equity of 8.00% and a net margin of 7.63%. The business’s quarterly revenue was down 19.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.48 EPS. As a group, analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

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 large institutions looking to acquire single-family rental properties.