Zacks Investment Research upgraded shares of LGI Homes (NASDAQ:LGIH) from a hold rating to a buy rating in a research note published on Wednesday, Zacks.com reports. They currently have $80.00 price objective on the financial services provider’s stock.

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. “

Several other equities research analysts have also recently commented on LGIH. JMP Securities set a $79.00 price target on shares of LGI Homes and gave the stock a buy rating in a research report on Tuesday, April 9th. ValuEngine cut shares of Yara International ASA from a hold rating to a sell rating in a research report on Wednesday, March 27th. Wells Fargo & Co boosted their price target on shares of Wingstop from $76.00 to $84.00 and gave the stock an outperform rating in a research report on Monday, May 6th. Finally, BidaskClub cut shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $70.50.

NASDAQ:LGIH traded up $1.08 on Wednesday, hitting $73.43. 201,336 shares of the company’s stock were exchanged, compared to its average volume of 298,844. The business has a 50-day simple moving average of $71.32. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.35 and a current ratio of 16.86. LGI Homes has a 52 week low of $37.16 and a 52 week high of $75.49. The stock has a market capitalization of $1.65 billion, a P/E ratio of 11.56, a P/E/G ratio of 0.96 and a beta of 0.57.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.73 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.13). LGI Homes had a return on equity of 23.28% and a net margin of 9.67%. The business had revenue of $287.60 million for the quarter, compared to the consensus estimate of $288.06 million. During the same period last year, the firm earned $1.10 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. Research analysts anticipate that LGI Homes will post 6.66 earnings per share for the current year.

In other news, insider Michael Larry Snider sold 13,170 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $68.11, for a total value of $897,008.70. Following the sale, the insider now directly owns 175,544 shares of the company’s stock, valued at approximately $11,956,301.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven Randal Smith sold 2,500 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $74.49, for a total transaction of $186,225.00. Following the completion of the sale, the director now directly owns 12,407 shares in the company, valued at $924,197.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,670 shares of company stock worth $1,792,334. 13.40% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. 6 Meridian bought a new stake in shares of LGI Homes in the 1st quarter valued at about $217,000. Everence Capital Management Inc. acquired a new position in shares of LGI Homes during the 1st quarter worth approximately $225,000. BNP Paribas Arbitrage SA grew its position in shares of LGI Homes by 64,083.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,851 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 3,845 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of LGI Homes by 514.4% during the 4th quarter. Macquarie Group Ltd. now owns 3,883 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 3,251 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of LGI Homes during the 1st quarter worth approximately $243,000. 94.44% of the stock is currently owned by institutional investors.

About LGI Homes

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

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