Brokerages Set LGI Homes, Inc. (NASDAQ:LGIH) PT at $75.00

Shares of LGI Homes, Inc. (NASDAQ:LGIH) have been assigned an average recommendation of “Hold” from the five analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $75.6667.

LGIH has been the subject of a number of analyst reports. Wedbush restated a “neutral” rating and issued a $95.00 price target on shares of LGI Homes in a research report on Friday. JMP Securities raised their price target on LGI Homes from $75.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 27th. Citigroup restated a “market outperform” rating on shares of LGI Homes in a research report on Wednesday, August 27th. Finally, JPMorgan Chase & Co. lowered their price target on LGI Homes from $52.00 to $47.00 and set an “underweight” rating for the company in a research report on Wednesday, July 9th.

Institutional Trading of LGI Homes

Several institutional investors and hedge funds have recently made changes to their positions in LGIH. Tower Research Capital LLC TRC lifted its position in shares of LGI Homes by 10.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,210 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 212 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of LGI Homes by 9.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,527 shares of the financial services provider’s stock worth $1,389,000 after purchasing an additional 1,390 shares during the last quarter. Northern Trust Corp lifted its position in shares of LGI Homes by 11.5% during the fourth quarter. Northern Trust Corp now owns 219,547 shares of the financial services provider’s stock worth $19,628,000 after purchasing an additional 22,615 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of LGI Homes during the fourth quarter worth $491,000. Finally, Cornerstone Select Advisors LLC bought a new stake in shares of LGI Homes during the fourth quarter worth $271,000. 84.89% of the stock is currently owned by institutional investors.

LGI Homes Trading Up 2.4%

LGIH stock opened at $67.01 on Tuesday. The firm has a fifty day moving average price of $58.53 and a 200 day moving average price of $59.58. LGI Homes has a fifty-two week low of $47.17 and a fifty-two week high of $125.83. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 18.18. The firm has a market cap of $1.55 billion, a PE ratio of 10.11 and a beta of 1.75.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.15. The company had revenue of $483.49 million during the quarter, compared to the consensus estimate of $546.96 million. LGI Homes had a return on equity of 8.00% and a net margin of 7.63%.LGI Homes’s revenue was down 19.8% on a year-over-year basis. During the same period last year, the company earned $2.48 earnings per share. Sell-side analysts anticipate that LGI Homes will post 8.46 earnings per share for the current fiscal year.

LGI Homes Company Profile

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.