Wall Street Zen upgraded shares of LGI Homes (NASDAQ:LGIH – Free Report) from a sell rating to a hold rating in a research report report published on Sunday.
Other equities analysts have also recently issued reports about the company. Zacks Research upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. raised their price target on LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Finally, Weiss Ratings upgraded LGI Homes from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $72.75.
Get Our Latest Research Report on LGI Homes
LGI Homes Price Performance
LGI Homes (NASDAQ:LGIH – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The firm had revenue of $516.05 million during the quarter, compared to analyst estimates of $489.23 million. LGI Homes had a net margin of 3.88% and a return on equity of 3.55%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.36 EPS.
Institutional Investors Weigh In On LGI Homes
Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of LGI Homes by 58.7% during the 1st quarter. Royal Bank of Canada now owns 4,721 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 1,746 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in LGI Homes by 5.2% in 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 buying an additional 621 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in LGI Homes by 5.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock worth $16,627,000 after buying an additional 12,524 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in LGI Homes by 106.6% in the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after buying an additional 305 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in LGI Homes by 19.0% in the second quarter. Invesco Ltd. now owns 85,400 shares of the financial services provider’s stock worth $4,400,000 after buying an additional 13,611 shares in the last quarter. Institutional investors own 84.89% of the company’s stock.
LGI Homes Company Profile
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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