JMP Securities set a $60.00 price objective on LGI Homes (NASDAQ:LGIH) in a report issued on Wednesday. The firm currently has a buy rating on the financial services provider’s stock.

Several other equities research analysts also recently commented on the stock. BidaskClub downgraded shares of LGI Homes from a hold rating to a sell rating in a research report on Friday, July 27th. JPMorgan Chase & Co. upgraded shares of LGI Homes from a neutral rating to an overweight rating and reduced their price target for the company from $69.00 to $58.50 in a research report on Friday, September 21st. ValuEngine downgraded shares of LGI Homes from a hold rating to a sell rating in a research report on Friday, September 7th. Wedbush reduced their price target on shares of LGI Homes from $65.00 to $60.00 and set a neutral rating for the company in a research report on Wednesday, August 8th. Finally, Zacks Investment Research downgraded shares of LGI Homes from a hold rating to a sell rating in a research report on Thursday, October 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $56.70.

Shares of NASDAQ:LGIH traded up $1.06 during mid-day trading on Wednesday, hitting $41.26. The stock had a trading volume of 631,151 shares, compared to its average volume of 482,583. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.47 and a current ratio of 13.89. The company has a market cap of $905.05 million, a PE ratio of 8.72, a price-to-earnings-growth ratio of 0.56 and a beta of 0.25. LGI Homes has a 12-month low of $37.16 and a 12-month high of $81.88.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, November 6th. The financial services provider reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.03. The business had revenue of $380.37 million during the quarter, compared to the consensus estimate of $378.96 million. LGI Homes had a net margin of 9.99% and a return on equity of 27.08%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 EPS. On average, equities analysts predict that LGI Homes will post 6.07 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in LGI Homes by 4.5% in the 2nd quarter. Rhumbline Advisers now owns 43,142 shares of the financial services provider’s stock worth $2,491,000 after buying an additional 1,847 shares in the last quarter. Legal & General Group Plc lifted its position in LGI Homes by 6.6% in the 2nd quarter. Legal & General Group Plc now owns 40,120 shares of the financial services provider’s stock worth $2,311,000 after buying an additional 2,496 shares in the last quarter. GSA Capital Partners LLP lifted its position in LGI Homes by 444.3% in the 2nd quarter. GSA Capital Partners LLP now owns 21,362 shares of the financial services provider’s stock worth $1,233,000 after buying an additional 17,437 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in LGI Homes by 29.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 41,075 shares of the financial services provider’s stock worth $2,371,000 after buying an additional 9,431 shares in the last quarter. Finally, BlackRock Inc. lifted its position in LGI Homes by 4.8% in the 2nd quarter. BlackRock Inc. now owns 2,719,627 shares of the financial services provider’s stock worth $157,003,000 after buying an additional 124,283 shares in the last quarter. Institutional investors own 87.73% of the company’s stock.

About LGI Homes

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington, Tennessee, and Minnesota markets. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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