LGI Homes, Inc. (NASDAQ:LGIH) Receives Consensus Rating of “Hold” from Brokerages

LGI Homes, Inc. (NASDAQ:LGIH) has been given a consensus rating of “Hold” by the six analysts that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $72.75.

Several analysts have recently commented on the company. Zacks Research upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Wall Street Zen raised shares of LGI Homes from a “sell” rating to a “hold” rating in a research report on Sunday. JPMorgan Chase & Co. lifted their target price on shares of LGI Homes from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings raised shares of LGI Homes from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 5th.

Hedge Funds Weigh In On LGI Homes

Several hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in LGI Homes in the 2nd quarter worth $93,000. Corient Private Wealth LP acquired a new stake in LGI Homes during the 2nd quarter worth about $336,000. Philadelphia Financial Management of San Francisco LLC purchased a new stake in LGI Homes during the 2nd quarter valued at about $11,155,144,000. Bank of America Corp DE purchased a new stake in LGI Homes during the 2nd quarter valued at about $5,048,000. Finally, Jupiter Topco LLC acquired a new position in shares of LGI Homes in the second quarter valued at about $602,000. 84.89% of the stock is owned by institutional investors and hedge funds.

LGI Homes Trading Down 2.0%

NASDAQ:LGIH opened at $58.62 on Tuesday. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 20.57 and a beta of 1.83. LGI Homes has a 52 week low of $33.55 and a 52 week high of $69.50. The company has a quick ratio of 0.61, a current ratio of 17.74 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average of $58.37 and a 200 day moving average of $50.66.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. LGI Homes had a net margin of 3.88% and a return on equity of 3.55%. The business had revenue of $516.05 million for the quarter, compared to analyst estimates of $489.23 million. During the same period in the previous year, the company earned $1.36 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis.

About LGI Homes

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.