Citizens Jmp Issues Positive Forecast for LGI Homes (NASDAQ:LGIH) Stock Price

LGI Homes (NASDAQ:LGIH) had its target price lifted by investment analysts at Citizens Jmp from $85.00 to $95.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market outperform” rating on the financial services provider’s stock. Citizens Jmp’s price target suggests a potential upside of 116.60% from the company’s previous close.

LGIH has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (d)” rating on shares of LGI Homes in a research note on Monday, December 29th. Citigroup reiterated an “outperform” rating on shares of LGI Homes in a research report on Wednesday. Capital One Financial set a $60.00 price objective on shares of LGI Homes in a report on Thursday, October 9th. Wedbush reaffirmed a “neutral” rating and issued a $95.00 target price on shares of LGI Homes in a research note on Monday, October 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of LGI Homes from $47.00 to $48.50 and gave the company an “underweight” rating in a research note on Tuesday, October 14th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.70.

LGI Homes Trading Up 2.5%

LGIH stock opened at $43.86 on Wednesday. LGI Homes has a 1-year low of $39.70 and a 1-year high of $97.25. The company has a current ratio of 18.02, a quick ratio of 0.58 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average is $46.56 and its 200-day moving average is $52.26. The firm has a market cap of $1.01 billion, a P/E ratio of 9.68 and a beta of 1.88.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.85 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.09). LGI Homes had a net margin of 5.93% and a return on equity of 5.50%. The company had revenue of $396.63 million during the quarter, compared to analyst estimates of $421.66 million. Equities analysts anticipate that LGI Homes will post 8.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB grew its position in shares of LGI Homes by 453.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 531 shares of the financial services provider’s stock worth $27,000 after buying an additional 435 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in LGI Homes by 75.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 237 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in LGI Homes by 106.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 305 shares during the period. Signaturefd LLC raised its position in shares of LGI Homes by 284.4% during the 2nd quarter. Signaturefd LLC now owns 815 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 603 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of LGI Homes by 35.1% in the 3rd quarter. Versant Capital Management Inc now owns 947 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 246 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

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.