LGI Homes’ (LGIH) Neutral Rating Reiterated at Wedbush

Wedbush restated their neutral rating on shares of LGI Homes (NASDAQ:LGIH) in a report issued on Friday morning,RTT News reports. They currently have a $95.00 price objective on the financial services provider’s stock.

Several other equities research analysts also recently commented on the stock. JMP Securities lifted their price objective on shares of LGI Homes from $75.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 27th. Citigroup reiterated a “market outperform” rating on shares of LGI Homes in a research note on Wednesday, August 27th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of LGI Homes from $52.00 to $47.00 and set an “underweight” rating for the company in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $75.67.

LGI Homes Price Performance

NASDAQ LGIH opened at $67.01 on Friday. The firm’s fifty day simple moving average is $58.53 and its two-hundred day simple moving average is $59.44. The company has a current ratio of 18.18, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85. LGI Homes has a 12-month low of $47.17 and a 12-month high of $125.83. The firm has a market capitalization of $1.55 billion, a P/E ratio of 10.11 and a beta of 1.75.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.15. LGI Homes had a net margin of 7.63% and a return on equity of 8.00%. The business had revenue of $483.49 million for the quarter, compared to analyst estimates of $546.96 million. During the same period in the previous year, the company earned $2.48 earnings per share. The business’s revenue for the quarter was down 19.8% on a year-over-year basis. Analysts forecast that LGI Homes will post 8.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC lifted its position in LGI Homes by 56.7% during the second quarter. Squarepoint Ops LLC now owns 46,981 shares of the financial services provider’s stock valued at $2,420,000 after purchasing an additional 17,004 shares during the period. Caxton Associates LLP acquired a new position in LGI Homes during the second quarter valued at $1,728,000. Rexford Capital Inc. acquired a new position in LGI Homes during the second quarter valued at $52,000. Public Sector Pension Investment Board lifted its position in LGI Homes by 6.9% during the second quarter. Public Sector Pension Investment Board now owns 70,193 shares of the financial services provider’s stock valued at $3,616,000 after purchasing an additional 4,544 shares during the period. Finally, FORA Capital LLC acquired a new position in LGI Homes during the second quarter valued at $247,000. 84.89% of the stock is currently owned by institutional investors and hedge funds.

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.