Wedbush downgraded shares of LGI Homes, Inc. (NASDAQ:LGIH) from an outperform rating to a neutral rating in a research note published on Tuesday, MarketBeat.com reports. The brokerage currently has $49.00 price objective on the financial services provider’s stock, down from their prior price objective of $55.00. Wedbush also issued estimates for LGI Homes’ Q4 2017 earnings at $1.54 EPS and FY2018 earnings at $6.44 EPS.

Other equities research analysts also recently issued research reports about the stock. ValuEngine raised shares of LGI Homes from a buy rating to a strong-buy rating in a research report on Saturday, September 30th. J P Morgan Chase & Co downgraded shares of LGI Homes from an overweight rating to a neutral rating and set a $49.00 price objective for the company. in a research report on Wednesday, August 9th. Deutsche Bank AG boosted their price objective on shares of LGI Homes from $40.00 to $55.00 and gave the company a buy rating in a research report on Thursday, August 10th. Zacks Investment Research downgraded shares of LGI Homes from a strong-buy rating to a hold rating in a research report on Saturday, August 12th. Finally, BidaskClub downgraded shares of LGI Homes from a strong-buy rating to a buy rating in a research report on Friday, August 25th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. LGI Homes has an average rating of Buy and a consensus target price of $47.00.

Shares of LGI Homes (NASDAQ:LGIH) traded up 0.29% during trading on Tuesday, reaching $52.28. The company’s stock had a trading volume of 320,289 shares. The firm’s 50-day moving average price is $45.44 and its 200-day moving average price is $38.86. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 13.88 and a beta of 0.12. LGI Homes has a one year low of $26.82 and a one year high of $54.84.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.12. LGI Homes had a net margin of 9.22% and a return on equity of 23.65%. The business had revenue of $324.20 million during the quarter, compared to the consensus estimate of $317.63 million. During the same quarter in the previous year, the firm posted $0.96 EPS. The firm’s revenue was up 45.6% on a year-over-year basis. On average, equities analysts anticipate that LGI Homes will post $4.40 earnings per share for the current year.

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In other LGI Homes news, CEO Eric Thomas Lipar sold 10,000 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $42.59, for a total value of $425,900.00. Following the sale, the chief executive officer now owns 524,175 shares in the company, valued at approximately $22,324,613.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bryan Christopher Sansbury sold 25,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $46.30, for a total transaction of $1,157,500.00. Following the completion of the sale, the director now owns 159,551 shares in the company, valued at approximately $7,387,211.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,500 shares of company stock worth $1,743,735. 13.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in LGIH. Victory Capital Management Inc. lifted its stake in LGI Homes by 85.3% in the 1st quarter. Victory Capital Management Inc. now owns 3,090 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 1,422 shares in the last quarter. LS Investment Advisors LLC lifted its stake in LGI Homes by 414.6% in the 1st quarter. LS Investment Advisors LLC now owns 3,103 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 2,500 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in LGI Homes by 14.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,238 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 402 shares in the last quarter. Mason Street Advisors LLC lifted its stake in LGI Homes by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 3,981 shares of the financial services provider’s stock worth $135,000 after purchasing an additional 260 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in LGI Homes by 82.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,393 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 1,533 shares in the last quarter. Institutional investors and hedge funds own 93.37% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc is a homebuilder and land developer. 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 operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

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