Wedbush restated their outperform rating on shares of LGI Homes, Inc. (NASDAQ:LGIH) in a report released on Saturday morning.

Other equities analysts also recently issued research reports about the stock. Deutsche Bank AG raised their target price on shares of LGI Homes from $40.00 to $55.00 and gave the company a buy rating in a research note on Thursday, August 10th. ValuEngine downgraded shares of LGI Homes from a strong-buy rating to a buy rating in a research note on Tuesday, June 20th. BidaskClub downgraded shares of LGI Homes from a strong-buy rating to a buy rating in a research note on Friday, August 25th. Zacks Investment Research downgraded shares of LGI Homes from a strong-buy rating to a hold rating in a research note on Saturday, August 12th. Finally, J P Morgan Chase & Co downgraded shares of LGI Homes from an overweight rating to a neutral rating and set a $49.00 target price for the company. in a research note on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $47.00.

Shares of LGI Homes (LGIH) traded down 0.87% during mid-day trading on Friday, reaching $44.67. The company’s stock had a trading volume of 330,565 shares. The company has a market cap of $965.54 million, a P/E ratio of 11.86 and a beta of 0.08. LGI Homes has a 12 month low of $26.82 and a 12 month high of $49.95. The company has a 50-day moving average of $44.94 and a 200-day moving average of $37.23.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.12. LGI Homes had a net margin of 9.22% and a return on equity of 23.65%. The business had revenue of $324.20 million during the quarter, compared to the consensus estimate of $317.63 million. During the same quarter last year, the firm earned $0.96 earnings per share. The business’s revenue for the quarter was up 45.6% on a year-over-year basis. Equities research analysts forecast that LGI Homes will post $4.30 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This article was first posted by Daily Political and is the sole property of of Daily Political. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://www.dailypolitical.com/2017/09/17/lgi-homes-inc-lgih-receives-outperform-rating-from-wedbush.html.

In related news, Director Bryan Christopher Sansbury sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $46.30, for a total transaction of $1,157,500.00. Following the completion of the sale, the director now owns 159,551 shares of the company’s stock, valued at $7,387,211.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric Thomas Lipar sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $42.59, for a total transaction of $425,900.00. Following the sale, the chief executive officer now directly owns 524,175 shares of the company’s stock, valued at approximately $22,324,613.25. The disclosure for this sale can be found here. 13.60% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. increased its position in shares of LGI Homes by 0.3% during the second quarter. Alps Advisors Inc. now owns 15,333 shares of the financial services provider’s stock valued at $616,000 after acquiring an additional 40 shares in the last quarter. Arizona State Retirement System increased its position in shares of LGI Homes by 1.1% during the first quarter. Arizona State Retirement System now owns 8,900 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 100 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of LGI Homes by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 100 shares in the last quarter. California State Teachers Retirement System increased its position in shares of LGI Homes by 0.7% during the second quarter. California State Teachers Retirement System now owns 30,595 shares of the financial services provider’s stock valued at $1,229,000 after acquiring an additional 200 shares in the last quarter. Finally, Mason Street Advisors LLC increased its position in shares of LGI Homes by 7.0% during the first quarter. Mason Street Advisors LLC now owns 3,981 shares of the financial services provider’s stock valued at $135,000 after acquiring an additional 260 shares in the last quarter. 93.49% of the stock is owned by institutional investors.

About LGI Homes

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.

Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

Receive News & Ratings for LGI Homes Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGI Homes Inc. and related companies with MarketBeat.com's FREE daily email newsletter.