Brokerages Set LGI Homes, Inc. (NASDAQ:LGIH) Target Price at $74.63

Shares of LGI Homes, Inc. (NASDAQ:LGIH) have received an average rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $74.6250.

LGIH has been the topic of several analyst reports. Citizens Jmp lifted their target price on shares of LGI Homes from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 7th. Citigroup reissued an “outperform” rating on shares of LGI Homes in a research note on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of LGI Homes in a research report on Monday, December 29th.

Hedge Funds Weigh In On LGI Homes

Several institutional investors and hedge funds have recently bought and sold shares of LGIH. Hantz Financial Services Inc. lifted its position in shares of LGI Homes by 58,700.0% in the second quarter. Hantz Financial Services Inc. now owns 1,176 shares of the financial services provider’s stock worth $61,000 after buying an additional 1,174 shares during the last quarter. Caxton Associates LLP bought a new position in shares of LGI Homes in the 2nd quarter valued at approximately $1,728,000. Voss Capital LP acquired a new stake in LGI Homes in the 2nd quarter worth approximately $11,592,000. Tributary Capital Management LLC boosted its position in LGI Homes by 93.1% during the third quarter. Tributary Capital Management LLC now owns 386,072 shares of the financial services provider’s stock worth $19,964,000 after purchasing an additional 186,159 shares during the period. Finally, CWM LLC boosted its position in LGI Homes by 149.0% during the second quarter. CWM LLC now owns 2,933 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 1,755 shares during the period. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Stock Performance

Shares of NASDAQ LGIH opened at $51.96 on Tuesday. The stock’s fifty day simple moving average is $51.18 and its 200 day simple moving average is $52.19. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 16.60 and a beta of 1.90. The company has a quick ratio of 0.76, a current ratio of 20.98 and a debt-to-equity ratio of 0.79. LGI Homes has a 52-week low of $39.70 and a 52-week high of $77.38.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, February 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $473.97 million during the quarter, compared to analyst estimates of $479.60 million. LGI Homes had a return on equity of 4.08% and a net margin of 4.25%.LGI Homes’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same quarter last year, the company posted $2.15 EPS. As a group, sell-side analysts forecast that LGI Homes will post 8.46 earnings per share for the current fiscal year.

LGI Homes Company Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.