LGI Homes, Inc. (NASDAQ:LGIH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday. The firm presently has a $49.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.35% from the stock’s current price.

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 have also issued reports about the stock. Wedbush reiterated a “neutral” rating and set a $35.00 price target on shares of LGI Homes in a research note on Tuesday, July 4th. Wells Fargo & Company upgraded shares of LGI Homes from an “underperform” rating to a “market perform” rating and set a $33.00 price target on the stock in a research note on Tuesday, May 16th. Finally, ValuEngine lowered shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. LGI Homes presently has a consensus rating of “Buy” and an average price target of $39.00.

Shares of LGI Homes (NASDAQ LGIH) opened at 43.23 on Tuesday. The stock has a market capitalization of $933.72 million, a price-to-earnings ratio of 12.98 and a beta of 0.04. The stock’s 50 day moving average is $35.16 and its 200-day moving average is $31.71. LGI Homes has a one year low of $26.82 and a one year high of $43.42.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. LGI Homes had a net margin of 8.95% and a return on equity of 22.09%. The firm had revenue of $162.91 million for the quarter, compared to analyst estimates of $161.68 million. During the same period last year, the business earned $0.57 EPS. LGI Homes’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities research analysts predict that LGI Homes will post $4.18 EPS for the current fiscal year.

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A number of large investors have recently made changes to their positions in LGIH. Arizona State Retirement System increased its position in shares of LGI Homes by 1.1% in the first quarter. Arizona State Retirement System now owns 8,900 shares of the financial services provider’s stock valued at $302,000 after buying an additional 100 shares during the last quarter. Mason Street Advisors LLC increased its position in shares of LGI Homes by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,981 shares of the financial services provider’s stock valued at $135,000 after buying an additional 260 shares during the last quarter. Legal & General Group Plc increased its position in shares of LGI Homes by 1.1% in the first quarter. Legal & General Group Plc now owns 28,293 shares of the financial services provider’s stock valued at $959,000 after buying an additional 306 shares during the last quarter. Thrivent Financial For Lutherans increased its position in shares of LGI Homes by 3.8% in the first quarter. Thrivent Financial For Lutherans now owns 9,570 shares of the financial services provider’s stock valued at $325,000 after buying an additional 350 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of LGI Homes by 14.2% in the first quarter. BNP Paribas Arbitrage SA now owns 3,238 shares of the financial services provider’s stock valued at $110,000 after buying an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 86.93% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc is a homebuilder and land developer. 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 operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

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