LGI Homes (NASDAQ:LGIH) Lifted to “Hold” at BidaskClub

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BidaskClub upgraded shares of LGI Homes (NASDAQ:LGIH) from a sell rating to a hold rating in a research note released on Friday, BidAskClub reports.

LGIH has been the topic of a number of other reports. JPMorgan Chase & Co. downgraded shares of LGI Homes from an overweight rating to a neutral rating and increased their price objective for the company from $77.00 to $84.50 in a research report on Wednesday, September 11th. Zacks Investment Research raised shares of LGI Homes from a sell rating to a hold rating in a research report on Friday, November 8th. Wells Fargo & Co lifted their price objective on shares of LGI Homes from $85.00 to $95.00 and gave the stock an outperform rating in a research report on Friday, September 13th. ValuEngine upgraded shares of LGI Homes from a strong sell rating to a sell rating in a research note on Friday, November 29th. Finally, JMP Securities increased their target price on LGI Homes from $83.00 to $89.00 and gave the company a market outperform rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $83.30.

Shares of LGIH opened at $73.98 on Friday. LGI Homes has a 1 year low of $40.29 and a 1 year high of $89.00. The stock has a market capitalization of $1.70 billion, a PE ratio of 11.65 and a beta of 0.48. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.16 and a current ratio of 14.90. The stock has a 50-day simple moving average of $75.81 and a 200-day simple moving average of $75.74.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, November 5th. The financial services provider reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.04. The firm had revenue of $483.10 million for the quarter, compared to analyst estimates of $486.83 million. LGI Homes had a net margin of 9.43% and a return on equity of 22.07%. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.52 earnings per share. Analysts predict that LGI Homes will post 6.72 EPS for the current year.

In related news, Director Bryan Christopher Sansbury sold 9,200 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $72.00, for a total value of $662,400.00. Following the completion of the transaction, the director now directly owns 17,353 shares of the company’s stock, valued at $1,249,416. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.40% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new position in shares of LGI Homes during the third quarter worth about $25,000. US Bancorp DE grew its stake in shares of LGI Homes by 1,332.6% during the 2nd quarter. US Bancorp DE now owns 659 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 613 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of LGI Homes by 21.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,187 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 206 shares during the period. Bank of Montreal Can increased its holdings in shares of LGI Homes by 379.4% in the 2nd quarter. Bank of Montreal Can now owns 2,114 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 1,673 shares in the last quarter. Finally, Psagot Investment House Ltd. acquired a new stake in shares of LGI Homes in the second quarter valued at about $186,000. 96.57% of the stock is owned by hedge funds and other institutional investors.

About LGI Homes

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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