LGI Homes (NASDAQ:LGIH) Stock Rating Upgraded by Wall Street Zen

by · The Markets Daily

LGI Homes (NASDAQ:LGIH – Get Free Report) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Several other equities analysts have also commented on LGIH. Zacks Research upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. raised their price target on LGI Homes from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded LGI Homes from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, LGI Homes currently has a consensus rating of “Hold” and a consensus target price of $72.75.

Read Our Latest Analysis on LGI Homes

LGI Homes Stock Down 2.0%

Shares of NASDAQ:LGIH opened at $58.62 on Friday. The company has a market capitalization of $1.36 billion, a P/E ratio of 20.57 and a beta of 1.83. The stock’s fifty day simple moving average is $58.37 and its 200-day simple moving average is $50.66. LGI Homes has a 52-week low of $33.55 and a 52-week high of $69.50. The company has a quick ratio of 0.61, a current ratio of 17.74 and a debt-to-equity ratio of 0.74.

LGI Homes (NASDAQ:LGIH – Get Free Report) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. LGI Homes had a net margin of 3.88% and a return on equity of 3.55%. The firm had revenue of $516.05 million during the quarter, compared to the consensus estimate of $489.23 million. During the same quarter in the previous year, the company posted $1.36 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in shares of LGI Homes by 58.7% in the first quarter. Royal Bank of Canada now owns 4,721 shares of the financial services provider’s stock valued at $313,000 after buying an additional 1,746 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in LGI Homes by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,502 shares of the financial services provider’s stock worth $831,000 after acquiring an additional 621 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in LGI Homes by 5.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock worth $16,627,000 after acquiring an additional 12,524 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in LGI Homes by 106.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 305 shares during the period. Finally, Invesco Ltd. boosted its holdings in LGI Homes by 19.0% in the 2nd quarter. Invesco Ltd. now owns 85,400 shares of the financial services provider’s stock worth $4,400,000 after acquiring an additional 13,611 shares during the period. Institutional investors and hedge funds own 84.89% of the company’s stock.

About LGI Homes

(Get Free Report)

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.

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