Brokerages Set LGI Homes, Inc. (NASDAQ:LGIH) Target Price at $72.13

Shares of LGI Homes, Inc. (NASDAQ:LGIH) have been given an average recommendation of “Hold” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $72.1250.

LGIH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on LGI Homes from $47.00 to $48.50 and gave the company an “underweight” rating in a research note on Tuesday, October 14th. JMP Securities upped their price target on shares of LGI Homes from $75.00 to $85.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 27th. Weiss Ratings restated a “sell (d+)” rating on shares of LGI Homes in a report on Monday, December 8th. Wedbush reiterated a “neutral” rating and set a $95.00 target price on shares of LGI Homes in a research note on Monday, October 6th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of LGI Homes in a report on Wednesday, August 27th.

Institutional Investors Weigh In On LGI Homes

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its position in LGI Homes by 75.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock worth $28,000 after buying an additional 237 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of LGI Homes by 35.1% during the 3rd quarter. Versant Capital Management Inc now owns 947 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 246 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of LGI Homes by 4.8% in the second quarter. PNC Financial Services Group Inc. now owns 5,976 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 275 shares during the period. Illinois Municipal Retirement Fund raised its stake in LGI Homes by 2.6% in the third quarter. Illinois Municipal Retirement Fund now owns 10,970 shares of the financial services provider’s stock valued at $567,000 after purchasing an additional 275 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in LGI Homes by 106.6% during the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 305 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Stock Down 1.5%

LGI Homes stock opened at $48.70 on Thursday. LGI Homes has a fifty-two week low of $39.70 and a fifty-two week high of $101.51. The firm has a market capitalization of $1.12 billion, a PE ratio of 10.75 and a beta of 1.85. The company’s 50-day moving average is $47.23 and its 200-day moving average is $52.96. The company has a debt-to-equity ratio of 0.84, a current ratio of 18.02 and a quick ratio of 0.58.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.09). The business had revenue of $396.63 million for the quarter, compared to analyst estimates of $421.66 million. LGI Homes had a return on equity of 5.50% and a net margin of 5.93%. Sell-side analysts anticipate that LGI Homes will post 8.46 earnings per share for the current 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.