LGI Homes, Inc. (NASDAQ:LGIH) Given Average Recommendation of “Hold” by Brokerages

LGI Homes, Inc. (NASDAQ:LGIH) has been assigned a consensus rating of “Hold” from the six brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $72.75.

LGIH has been the topic of a number of analyst reports. Wall Street Zen raised LGI Homes from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. JPMorgan Chase & Co. upped their price objective on shares of LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Zacks Research upgraded shares of LGI Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of LGI Homes in a research report on Friday, May 22nd.

Institutional Investors Weigh In On LGI Homes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its position in LGI Homes by 16.1% during the second quarter. Wasatch Advisors LP now owns 213,471 shares of the financial services provider’s stock valued at $13,594,000 after acquiring an additional 29,679 shares in the last quarter. Everhart Financial Group Inc. bought a new stake in LGI Homes in the second quarter worth approximately $438,000. GAMMA Investing LLC increased its stake in shares of LGI Homes by 14.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,093 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 269 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of LGI Homes by 105.9% during the 2nd quarter. Versant Capital Management Inc now owns 2,314 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 1,190 shares during the last quarter. Finally, Altshuler Shaham Ltd raised its holdings in shares of LGI Homes by 5.4% during the 1st quarter. Altshuler Shaham Ltd now owns 1,087,263 shares of the financial services provider’s stock valued at $42,980,000 after purchasing an additional 55,465 shares in the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Trading Up 0.9%

Shares of NASDAQ:LGIH opened at $58.33 on Friday. The company has a 50 day moving average of $54.30 and a 200-day moving average of $49.71. The company has a current ratio of 18.56, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The firm has a market cap of $1.36 billion, a P/E ratio of 19.12 and a beta of 1.82. LGI Homes has a twelve month low of $33.55 and a twelve month high of $69.50.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.22. LGI Homes had a return on equity of 3.80% and a net margin of 4.22%.The business had revenue of $319.74 million during the quarter, compared to analyst estimates of $328.22 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The company’s revenue was down 9.0% on a year-over-year basis.

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.