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

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. “

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. upgraded LGI Homes from a neutral rating to an overweight rating and dropped their target price for the stock from $69.00 to $58.50 in a research report on Friday, September 21st. JMP Securities set a $60.00 target price on LGI Homes and gave the stock a buy rating in a research report on Wednesday, November 7th. ValuEngine downgraded LGI Homes from a hold rating to a sell rating in a research report on Friday, September 7th. BidaskClub downgraded LGI Homes from a sell rating to a strong sell rating in a research report on Saturday, September 15th. Finally, Wedbush dropped their target price on LGI Homes from $65.00 to $60.00 and set a neutral rating for the company in a research report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $56.70.

LGIH stock opened at $44.41 on Wednesday. The firm has a market cap of $1.00 billion, a PE ratio of 9.39, a PEG ratio of 0.65 and a beta of 0.26. LGI Homes has a twelve month low of $37.16 and a twelve month high of $81.88. The company has a quick ratio of 1.21, a current ratio of 13.89 and a debt-to-equity ratio of 1.02.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, November 6th. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The company had revenue of $380.37 million during the quarter, compared to the consensus estimate of $378.96 million. LGI Homes had a return on equity of 27.08% and a net margin of 9.99%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.40 earnings per share. On average, equities research analysts predict that LGI Homes will post 6.21 earnings per share for the current fiscal year.

In related news, Director Ryan Edone acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The stock was acquired at an average price of $41.12 per share, for a total transaction of $41,120.00. Following the completion of the acquisition, the director now owns 23,982 shares of the company’s stock, valued at approximately $986,139.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 13.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. bought a new stake in LGI Homes in the third quarter valued at about $126,000. Morse Asset Management Inc bought a new stake in LGI Homes in the second quarter valued at about $207,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in LGI Homes in the second quarter valued at about $221,000. BRYN MAWR TRUST Co bought a new stake in LGI Homes in the second quarter valued at about $228,000. Finally, SG Americas Securities LLC bought a new stake in LGI Homes in the second quarter valued at about $234,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. 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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