LGI Homes, Inc. (NASDAQ:LGIH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

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. “

A number of other equities research analysts have also recently weighed in on LGIH. Deutsche Bank AG increased their price target on LGI Homes from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. cut LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price target on the stock. in a research note on Wednesday. BidaskClub upgraded LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Wedbush restated a “neutral” rating and issued a $35.00 price target on shares of LGI Homes in a research note on Tuesday, July 4th. Finally, Wells Fargo & Company upgraded 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. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $44.20.

Shares of LGI Homes (NASDAQ LGIH) opened at 45.86 on Friday. LGI Homes has a 12-month low of $26.82 and a 12-month high of $49.95. The company’s 50 day moving average is $43.01 and its 200 day moving average is $34.69. The firm has a market capitalization of $991.26 million, a PE ratio of 12.18 and a beta of 0.07.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.12. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. The business had revenue of $324.20 million for the quarter, compared to analysts’ expectations of $317.63 million. During the same quarter in the prior year, the business earned $0.96 EPS. The firm’s revenue for the quarter was up 45.6% on a year-over-year basis. On average, analysts forecast that LGI Homes will post $4.20 earnings per share for the current year.

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In other LGI Homes news, CEO Eric Thomas Lipar sold 10,000 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $42.59, for a total transaction of $425,900.00. Following the transaction, the chief executive officer now owns 524,175 shares in the company, valued at approximately $22,324,613.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.60% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in LGI Homes by 85.3% in the first quarter. Victory Capital Management Inc. now owns 3,090 shares of the financial services provider’s stock valued at $105,000 after buying an additional 1,422 shares during the last quarter. LS Investment Advisors LLC boosted its position in LGI Homes by 414.6% in the first quarter. LS Investment Advisors LLC now owns 3,103 shares of the financial services provider’s stock valued at $105,000 after buying an additional 2,500 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in 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. State of Alaska Department of Revenue boosted its position in LGI Homes by 82.4% in the second quarter. State of Alaska Department of Revenue now owns 3,393 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,533 shares during the last quarter. Finally, Mason Street Advisors LLC boosted its position in 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. Hedge funds and other institutional investors own 87.66% 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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Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

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