LGI Homes, Inc. (LGIH) PT Raised to $55.00
LGI Homes, Inc. (NASDAQ:LGIH) had its price target increased by Deutsche Bank AG to $55.00 in a research note issued to investors on Thursday. The brokerage presently has a “buy” rating on the financial services provider’s stock. Deutsche Bank AG’s target price would indicate a potential upside of 19.41% from the company’s current price.
Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Wells Fargo & Company raised shares of LGI Homes from an “underperform” rating to a “market perform” rating and set a $33.00 price target on the stock in a research report on Tuesday, May 16th. Wedbush reissued a “neutral” rating and issued a $35.00 price target on shares of LGI Homes in a research report on Tuesday, July 4th. J P Morgan Chase & Co lowered shares of LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price target on the stock. in a research report on Wednesday. Finally, Zacks Investment Research lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $44.20.
LGI Homes (NASDAQ LGIH) traded down 0.22% during midday trading on Thursday, hitting $45.96. 87,148 shares of the stock traded hands. The firm has a market cap of $993.43 million, a P/E ratio of 12.20 and a beta of 0.07. LGI Homes has a 1-year low of $26.82 and a 1-year high of $49.95. The company has a 50-day moving average price of $42.56 and a 200-day moving average price of $34.49.
LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.12. LGI Homes had a net margin of 9.22% and a return on equity of 23.65%. The company had revenue of $324.20 million for the quarter, compared to analyst estimates of $317.63 million. During the same quarter last year, the firm posted $0.96 earnings per share. The company’s quarterly revenue was up 45.6% compared to the same quarter last year. Analysts predict that LGI Homes will post $4.17 EPS for the current year.
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In related 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 transaction of $425,900.00. Following the transaction, the chief executive officer now owns 524,175 shares of the company’s stock, valued at $22,324,613.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of LGI Homes by 85.3% in the first quarter. Victory Capital Management Inc. now owns 3,090 shares of the financial services provider’s stock worth $105,000 after buying an additional 1,422 shares during the period. LS Investment Advisors LLC raised its position in shares of LGI Homes by 414.6% in the first quarter. LS Investment Advisors LLC now owns 3,103 shares of the financial services provider’s stock worth $105,000 after buying an additional 2,500 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of LGI Homes by 14.2% in the first quarter. BNP Paribas Arbitrage SA now owns 3,238 shares of the financial services provider’s stock worth $110,000 after buying an additional 402 shares during the period. State of Alaska Department of Revenue increased its stake in LGI Homes by 82.4% in the second quarter. State of Alaska Department of Revenue now owns 3,393 shares of the financial services provider’s stock worth $136,000 after buying an additional 1,533 shares in the last quarter. Finally, Mason Street Advisors LLC increased its stake in LGI Homes by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,981 shares of the financial services provider’s stock worth $135,000 after buying an additional 260 shares in the last quarter. 87.66% of the stock is currently owned by institutional investors and hedge funds.
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.
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