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 analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $74.6250.

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

LGI Homes Trading Down 3.5%

LGIH opened at $50.10 on Tuesday. LGI Homes has a one year low of $39.70 and a one year high of $77.38. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 20.98. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 16.01 and a beta of 1.88. The stock’s 50 day moving average price is $51.47 and its 200-day moving average price is $51.88.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, February 17th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. LGI Homes had a return on equity of 4.08% and a net margin of 4.25%.The company had revenue of $473.97 million for the quarter, compared to the consensus estimate of $479.60 million. During the same quarter in the prior year, the company posted $2.15 EPS. LGI Homes’s quarterly revenue was down 15.0% on a year-over-year basis. On average, equities analysts forecast that LGI Homes will post 8.46 EPS for the current year.

Institutional Investors Weigh In On LGI Homes

Hedge funds have recently made changes to their positions in the company. Voss Capital LP purchased a new position in shares of LGI Homes in the 2nd quarter valued at approximately $11,592,000. Tributary Capital Management LLC raised its holdings in shares of LGI Homes by 93.1% in the third quarter. Tributary Capital Management LLC now owns 386,072 shares of the financial services provider’s stock worth $19,964,000 after buying an additional 186,159 shares during the last quarter. CDAM UK Ltd lifted its stake in shares of LGI Homes by 15.4% during the fourth quarter. CDAM UK Ltd now owns 743,153 shares of the financial services provider’s stock worth $31,926,000 after buying an additional 99,090 shares during the period. SG Americas Securities LLC grew its holdings in shares of LGI Homes by 1,158.0% during the fourth quarter. SG Americas Securities LLC now owns 91,471 shares of the financial services provider’s stock valued at $3,930,000 after buying an additional 84,200 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its position in shares of LGI Homes by 118.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 155,012 shares of the financial services provider’s stock valued at $8,016,000 after acquiring an additional 84,079 shares during the period. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

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.