LGI Homes Inc. (NASDAQ:LGIH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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. “

Separately, JMP Securities reiterated a “buy” rating on shares of LGI Homes in a research report on Saturday, July 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. LGI Homes has a consensus rating of “Buy” and an average price target of $36.33.

LGI Homes (NASDAQ:LGIH) opened at 35.63 on Thursday. LGI Homes has a 52-week low of $18.74 and a 52-week high of $40.47. The company has a market cap of $749.05 million, a P/E ratio of 11.77 and a beta of -0.03. The stock’s 50 day moving average price is $35.59 and its 200-day moving average price is $29.66.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, August 9th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.09. The business had revenue of $222.72 million for the quarter, compared to the consensus estimate of $219.52 million. LGI Homes had a return on equity of 24.52% and a net margin of 8.63%. The business’s quarterly revenue was up 40.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 earnings per share. On average, equities analysts predict that LGI Homes will post $3.40 earnings per share for the current fiscal year.

In related news, major shareholder Eric Thomas Lipar sold 10,000 shares of LGI Homes stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $29.96, for a total transaction of $299,600.00. Following the transaction, the insider now owns 491,433 shares in the company, valued at $14,723,332.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 17.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in LGIH. Gilder Gagnon Howe & Co. LLC increased its stake in LGI Homes by 47.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,968,944 shares of the company’s stock worth $62,888,000 after buying an additional 636,102 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in LGI Homes by 38.6% in the second quarter. Frontier Capital Management Co. LLC now owns 1,430,993 shares of the company’s stock worth $45,706,000 after buying an additional 398,584 shares in the last quarter. Capital Growth Management LP increased its stake in LGI Homes by 14.4% in the second quarter. Capital Growth Management LP now owns 955,000 shares of the company’s stock worth $30,503,000 after buying an additional 120,000 shares in the last quarter. Vanguard Group Inc. increased its stake in LGI Homes by 12.2% in the second quarter. Vanguard Group Inc. now owns 582,946 shares of the company’s stock worth $18,620,000 after buying an additional 63,586 shares in the last quarter. Finally, Covalent Partners LLC increased its stake in LGI Homes by 17.2% in the second quarter. Covalent Partners LLC now owns 523,803 shares of the company’s stock worth $16,730,000 after buying an additional 77,000 shares in the last quarter. Hedge funds and other institutional investors own 66.98% of the company’s stock.

About LGI Homes

LGI Homes, Inc is a homebuilder. 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 has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

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