Zacks Investment Research upgraded shares of LGI Homes (NASDAQ:LGIH) from a sell rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “LGI Homes, Inc. is engaged in the design and construction of entry-level homes across Texas, Arizona, Florida and Georgia. The company focuses on converting renters of apartments and single-family homes into homeowners by offering homes at affordable locations. LGI Homes, Inc. is headquartered in The Woodlands, Texas. “

Other research analysts also recently issued reports about the stock. BidaskClub downgraded shares of LGI Homes from a hold rating to a sell rating in a research report on Friday, July 27th. ValuEngine downgraded shares of LGI Homes from a hold rating to a sell rating in a research report on Friday, September 7th. Finally, Wedbush reduced their price target on shares of LGI Homes from $65.00 to $60.00 and set a neutral rating on the stock in a research report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. LGI Homes has a consensus rating of Hold and an average price target of $56.70.

LGI Homes stock opened at $41.26 on Wednesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.47 and a current ratio of 13.89. LGI Homes has a 1 year low of $37.16 and a 1 year high of $81.88. The stock has a market capitalization of $905.05 million, a PE ratio of 8.72, a price-to-earnings-growth ratio of 0.56 and a beta of 0.25.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, November 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.03. LGI Homes had a net margin of 9.99% and a return on equity of 27.08%. The company had revenue of $380.37 million for the quarter, compared to the consensus estimate of $378.96 million. During the same period last year, the firm posted $1.40 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts expect that LGI Homes will post 6.07 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. United Services Automobile Association lifted its position in LGI Homes by 26.4% in the 2nd quarter. United Services Automobile Association now owns 4,741 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 989 shares during the last quarter. Brookstone Capital Management lifted its position in LGI Homes by 40.3% in the 3rd quarter. Brookstone Capital Management now owns 5,080 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 1,458 shares during the last quarter. Montgomery Investment Management Inc. lifted its position in LGI Homes by 1.8% in the 2nd quarter. Montgomery Investment Management Inc. now owns 86,380 shares of the financial services provider’s stock valued at $4,987,000 after purchasing an additional 1,500 shares during the last quarter. LPL Financial LLC lifted its position in LGI Homes by 36.7% in the 1st quarter. LPL Financial LLC now owns 6,548 shares of the financial services provider’s stock valued at $462,000 after purchasing an additional 1,758 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in LGI Homes by 4.5% in the 2nd quarter. Rhumbline Advisers now owns 43,142 shares of the financial services provider’s stock valued at $2,491,000 after purchasing an additional 1,847 shares during the last quarter. Hedge funds and other institutional investors own 87.73% of the company’s stock.

About LGI Homes

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington, Tennessee, and Minnesota markets. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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