LGI Homes (NASDAQ:LGIH) Cut to “Buy” at BidaskClub

BidaskClub lowered shares of LGI Homes (NASDAQ:LGIH) from a strong-buy rating to a buy rating in a report published on Friday morning, BidAskClub reports.

LGIH has been the topic of a number of other reports. Zacks Investment Research raised LGI Homes from a hold rating to a buy rating and set a $83.00 price target on the stock in a research note on Wednesday, July 17th. JPMorgan Chase & Co. lowered LGI Homes from an overweight rating to a neutral rating and lifted their price target for the company from $77.00 to $84.50 in a research note on Wednesday, September 11th. ValuEngine lowered LGI Homes from a buy rating to a hold rating in a research note on Friday, July 19th. BTIG Research lowered LGI Homes from a neutral rating to a sell rating and set a $62.00 price target on the stock. in a research note on Wednesday, August 7th. Finally, JMP Securities lifted their price target on LGI Homes from $83.00 to $89.00 and gave the company a market outperform rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $78.08.

Shares of LGIH stock opened at $79.83 on Friday. The business’s 50-day moving average price is $77.36 and its 200-day moving average price is $70.04. LGI Homes has a 12 month low of $37.16 and a 12 month high of $85.41. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 12.57 and a beta of 0.51. The company has a current ratio of 15.20, a quick ratio of 1.34 and a debt-to-equity ratio of 0.92.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.20. LGI Homes had a return on equity of 21.68% and a net margin of 9.31%. The firm had revenue of $461.83 million for the quarter, compared to analyst estimates of $465.08 million. During the same period last year, the firm posted $1.90 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that LGI Homes will post 6.73 earnings per share for the current fiscal year.

In other news, CEO Eric Thomas Lipar sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $80.28, for a total transaction of $2,007,000.00. Following the completion of the transaction, the chief executive officer now directly owns 528,058 shares in the company, valued at $42,392,496.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bryan Christopher Sansbury sold 8,949 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $80.91, for a total value of $724,063.59. Following the transaction, the director now owns 160,121 shares of the company’s stock, valued at $12,955,390.11. The disclosure for this sale can be found here. 13.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. TD Asset Management Inc. bought a new position in shares of LGI Homes during the second quarter worth about $1,246,000. Campbell Newman Asset Management Inc. raised its position in shares of LGI Homes by 7.0% during the second quarter. Campbell Newman Asset Management Inc. now owns 8,582 shares of the financial services provider’s stock worth $613,000 after acquiring an additional 565 shares during the last quarter. Brookstone Capital Management increased its holdings in LGI Homes by 4.9% in the second quarter. Brookstone Capital Management now owns 7,024 shares of the financial services provider’s stock worth $502,000 after purchasing an additional 330 shares in the last quarter. Xact Kapitalforvaltning AB bought a new stake in LGI Homes in the second quarter worth approximately $233,000. Finally, Altshuler Shaham Ltd increased its holdings in LGI Homes by 2.0% in the second quarter. Altshuler Shaham Ltd now owns 882,787 shares of the financial services provider’s stock worth $63,057,000 after purchasing an additional 17,288 shares in the last quarter. Institutional investors own 94.62% of the company’s stock.

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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Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

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