LGI Homes (NASDAQ:LGIH) Raised to “Buy” at ValuEngine

LGI Homes (NASDAQ:LGIH) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday, ValuEngine reports.

LGIH has been the subject of a number of other research reports. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. JMP Securities set a $79.00 target price on LGI Homes and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Wells Fargo & Co boosted their target price on Wingstop from $76.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Finally, BidaskClub downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $70.50.

NASDAQ:LGIH traded up $2.51 during mid-day trading on Friday, reaching $75.94. The stock had a trading volume of 268,782 shares, compared to its average volume of 298,752. The company has a 50 day moving average price of $71.44. The company has a market capitalization of $1.66 billion, a PE ratio of 11.96, a P/E/G ratio of 0.98 and a beta of 0.57. LGI Homes has a one year low of $37.16 and a one year high of $76.25. The company has a quick ratio of 1.35, a current ratio of 16.86 and a debt-to-equity ratio of 1.00.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, May 7th. The financial services provider reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.13). The firm had revenue of $287.60 million during the quarter, compared to the consensus estimate of $288.06 million. LGI Homes had a return on equity of 23.28% and a net margin of 9.67%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 EPS. Equities research analysts anticipate that LGI Homes will post 6.69 earnings per share for the current year.

In other LGI Homes news, Director Steven Randal Smith sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $74.49, for a total value of $186,225.00. Following the completion of the sale, the director now owns 12,407 shares in the company, valued at $924,197.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Thomas Lipar sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $70.91, for a total value of $709,100.00. Following the completion of the sale, the chief executive officer now owns 544,509 shares of the company’s stock, valued at approximately $38,611,133.19. The disclosure for this sale can be found here. Insiders sold 25,670 shares of company stock valued at $1,792,334 in the last quarter. Corporate insiders own 13.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in LGIH. FMR LLC lifted its position in LGI Homes by 40.3% in the fourth quarter. FMR LLC now owns 2,371,309 shares of the financial services provider’s stock valued at $107,231,000 after purchasing an additional 681,165 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of LGI Homes during the fourth quarter valued at approximately $9,605,000. Pier Capital LLC purchased a new position in shares of LGI Homes during the first quarter valued at approximately $4,979,000. Lord Abbett & CO. LLC increased its stake in shares of LGI Homes by 39.4% during the fourth quarter. Lord Abbett & CO. LLC now owns 265,962 shares of the financial services provider’s stock valued at $12,027,000 after buying an additional 75,104 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of LGI Homes during the first quarter valued at approximately $3,678,000. Hedge funds and other institutional investors own 94.44% 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, 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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