LGI Homes (LGIH) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of LGI Homes (NASDAQ:LGIH) from a sell rating to a hold rating in a research report sent to investors on Friday.

Other analysts have also issued research reports about the stock. Wedbush set a $55.00 target price on shares of LGI Homes and gave the company a hold rating in a research note on Thursday, October 4th. Zacks Investment Research upgraded shares of LGI Homes from a sell rating to a hold rating in a research note on Tuesday, July 24th. ValuEngine upgraded shares of LGI Homes from a sell rating to a hold rating in a research note on Tuesday, August 28th. Finally, JPMorgan Chase & Co. upgraded shares of LGI Homes from a neutral rating to an overweight rating and lowered their target price for the company from $69.00 to $58.50 in a research note on Friday, September 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. LGI Homes presently has an average rating of Hold and a consensus price target of $61.88.

LGIH stock traded up $0.20 during trading on Friday, hitting $44.25. 411,792 shares of the company’s stock traded hands, compared to its average volume of 461,914. The company has a debt-to-equity ratio of 0.98, a current ratio of 15.32 and a quick ratio of 1.47. LGI Homes has a 52 week low of $37.16 and a 52 week high of $81.88. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 0.62 and a beta of 0.25.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, August 7th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.22. LGI Homes had a net margin of 9.81% and a return on equity of 28.50%. The firm had revenue of $419.85 million during the quarter, compared to analyst estimates of $414.52 million. As a group, analysts expect that LGI Homes will post 6.51 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in LGIH. BlackRock Inc. boosted its holdings in shares of LGI Homes by 4.8% during the second quarter. BlackRock Inc. now owns 2,719,627 shares of the financial services provider’s stock valued at $157,003,000 after acquiring an additional 124,283 shares during the period. Epoch Investment Partners Inc. boosted its holdings in shares of LGI Homes by 22.9% during the second quarter. Epoch Investment Partners Inc. now owns 1,257,436 shares of the financial services provider’s stock valued at $72,591,000 after acquiring an additional 234,406 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in shares of LGI Homes by 104.0% during the third quarter. Frontier Capital Management Co. LLC now owns 1,243,244 shares of the financial services provider’s stock valued at $58,979,000 after acquiring an additional 633,714 shares during the period. Wasatch Advisors Inc. boosted its holdings in shares of LGI Homes by 30.9% during the second quarter. Wasatch Advisors Inc. now owns 1,136,799 shares of the financial services provider’s stock valued at $65,627,000 after acquiring an additional 268,391 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of LGI Homes by 9.9% during the second quarter. Northern Trust Corp now owns 234,646 shares of the financial services provider’s stock valued at $13,546,000 after acquiring an additional 21,074 shares during the period. Hedge funds and other institutional investors own 87.20% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington, Tennessee, and Minnesota markets. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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