LGI Homes (LGIH) Cut to Buy at BidaskClub

BidaskClub cut shares of LGI Homes (NASDAQ:LGIH) from a strong-buy rating to a buy rating in a research report report published on Thursday, January 11th.

A number of other brokerages also recently issued reports on LGIH. Zacks Investment Research upgraded LGI Homes from a hold rating to a strong-buy rating and set a $91.00 price target for the company in a research report on Thursday, January 4th. ValuEngine upgraded LGI Homes from a buy rating to a strong-buy rating in a research report on Sunday, December 31st. JMP Securities lifted their price target on LGI Homes from $62.00 to $68.00 and gave the company a market outperform rating in a research report on Wednesday, November 8th. Wedbush restated a neutral rating and issued a $60.00 target price (up previously from $55.00) on shares of LGI Homes in a research report on Wednesday, November 8th. Finally, TheStreet upgraded LGI Homes from a c+ rating to a b- rating in a research report on Monday, November 13th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $59.33.

LGI Homes (NASDAQ:LGIH) opened at $72.07 on Thursday. The company has a current ratio of 8.91, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $1,511.00, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.11 and a beta of 0.27. LGI Homes has a twelve month low of $26.82 and a twelve month high of $79.55.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, November 7th. The financial services provider reported $1.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.10. The business had revenue of $365.90 million during the quarter, compared to analyst estimates of $355.81 million. LGI Homes had a return on equity of 25.51% and a net margin of 9.26%. The company’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 EPS. equities research analysts expect that LGI Homes will post 4.63 earnings per share for the current fiscal year.

In related news, Director Bryan Christopher Sansbury sold 23,101 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $63.28, for a total value of $1,461,831.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Larry Snider sold 20,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $62.75, for a total value of $1,255,000.00. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System grew its stake in LGI Homes by 0.7% in the second quarter. California State Teachers Retirement System now owns 30,595 shares of the financial services provider’s stock worth $1,229,000 after purchasing an additional 200 shares during the period. Dimensional Fund Advisors LP grew its stake in LGI Homes by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 59,729 shares of the financial services provider’s stock worth $2,400,000 after purchasing an additional 393 shares during the period. Victory Capital Management Inc. grew its stake in LGI Homes by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,633 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 543 shares during the period. Royal Bank of Canada grew its stake in LGI Homes by 1.4% in the second quarter. Royal Bank of Canada now owns 45,691 shares of the financial services provider’s stock worth $1,836,000 after purchasing an additional 634 shares during the period. Finally, Nationwide Fund Advisors grew its stake in LGI Homes by 8.7% in the second quarter. Nationwide Fund Advisors now owns 9,817 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 782 shares during the period. 91.80% of the stock is currently owned by institutional investors.

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LGI Homes Company Profile

LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

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