LGI Homes Inc. (LGIH) Stock Rating Upgraded by Zacks Investment Research
LGI Homes Inc. (NASDAQ:LGIH) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $39.00 target price on the stock. Zacks Investment Research’s target price points to a potential upside of 11.21% from the stock’s previous close.
According to Zacks, “LGI Homes, Inc. is engaged in the design and construction of entry-level homes across Texas, Arizona, Florida and Georgia. The company focuses on converting renters of apartments and single-family homes into homeowners by offering homes at affordable locations. LGI Homes, Inc. is headquartered in The Woodlands, Texas. “
Other equities research analysts also recently issued research reports about the company. JMP Securities reissued a “buy” rating on shares of LGI Homes in a report on Saturday, July 9th. Wells Fargo & Co. initiated coverage on LGI Homes in a report on Wednesday, September 28th. They issued an “outperform” rating for the company. Six equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $40.33.
Shares of LGI Homes (NASDAQ:LGIH) traded down 1.80% during midday trading on Wednesday, reaching $34.44. 61,895 shares of the company’s stock traded hands. LGI Homes has a 52-week low of $18.74 and a 52-week high of $40.47. The stock has a market cap of $724.03 million, a price-to-earnings ratio of 11.38 and a beta of -0.01. The stock has a 50 day moving average of $36.47 and a 200-day moving average of $31.16.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.09. The company earned $222.72 million during the quarter, compared to analysts’ expectations of $219.52 million. LGI Homes had a net margin of 8.63% and a return on equity of 24.52%. The business’s quarterly revenue was up 40.2% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. On average, equities research analysts expect that LGI Homes will post $3.39 EPS for the current year.
In other LGI Homes news, insider Eric Thomas Lipar sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $36.66, for a total transaction of $366,600.00. Following the completion of the sale, the insider now owns 528,933 shares of the company’s stock, valued at approximately $19,390,683.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 17.50% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Gilder Gagnon Howe & Co. LLC increased its stake in shares of LGI Homes by 47.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,968,944 shares of the company’s stock valued at $62,888,000 after buying an additional 636,102 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of LGI Homes by 38.6% in the second quarter. Frontier Capital Management Co. LLC now owns 1,430,993 shares of the company’s stock valued at $45,706,000 after buying an additional 398,584 shares in the last quarter. Capital Growth Management LP increased its stake in shares of LGI Homes by 17.6% in the first quarter. Capital Growth Management LP now owns 835,000 shares of the company’s stock valued at $20,215,000 after buying an additional 125,000 shares in the last quarter. D.C. Capital Advisors Ltd increased its stake in shares of LGI Homes by 100.0% in the second quarter. D.C. Capital Advisors Ltd now owns 200,000 shares of the company’s stock valued at $6,388,000 after buying an additional 100,000 shares in the last quarter. Finally, Mitra Capital LLC acquired a new stake in shares of LGI Homes during the first quarter valued at about $2,032,000. 66.98% of the stock is owned by institutional investors and hedge funds.
About LGI Homes
LGI Homes, Inc is a homebuilder. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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