LGI Homes (LGIH) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of LGI Homes (NASDAQ:LGIH) from a sell rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “LGI Homes, Inc. is engaged in the design and construction of entry-level homes across Texas, Arizona, Florida and Georgia. The company focuses on converting renters of apartments and single-family homes into homeowners by offering homes at affordable locations. LGI Homes, Inc. is headquartered in The Woodlands, Texas. “

A number of other equities analysts have also weighed in on the stock. BidaskClub lowered shares of LGI Homes from a hold rating to a sell rating in a research report on Friday, July 27th. JPMorgan Chase & Co. upgraded shares of LGI Homes from a neutral rating to an overweight rating and lowered their price objective for the company from $69.00 to $58.50 in a research report on Friday, September 21st. ValuEngine lowered shares of LGI Homes from a hold rating to a sell rating in a research report on Friday, September 7th. Finally, Wedbush lowered their price objective on shares of LGI Homes from $65.00 to $60.00 and set a neutral rating for the company in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and an average price target of $56.70.

Shares of NASDAQ:LGIH traded up $1.06 during midday trading on Wednesday, reaching $41.26. 631,151 shares of the company were exchanged, compared to its average volume of 482,583. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.47 and a current ratio of 13.89. LGI Homes has a one year low of $37.16 and a one year high of $81.88. The firm has a market cap of $905.05 million, a price-to-earnings ratio of 8.72, a P/E/G ratio of 0.56 and a beta of 0.25.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, November 6th. The financial services provider reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.03. LGI Homes had a net margin of 9.99% and a return on equity of 27.08%. The firm had revenue of $380.37 million during the quarter, compared to analyst estimates of $378.96 million. During the same quarter in the prior year, the business earned $1.40 earnings per share. LGI Homes’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, research analysts predict that LGI Homes will post 6.07 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its stake in shares of LGI Homes by 4.5% in the second quarter. Rhumbline Advisers now owns 43,142 shares of the financial services provider’s stock valued at $2,491,000 after acquiring an additional 1,847 shares during the period. Legal & General Group Plc raised its stake in shares of LGI Homes by 6.6% in the second quarter. Legal & General Group Plc now owns 40,120 shares of the financial services provider’s stock valued at $2,311,000 after acquiring an additional 2,496 shares during the period. GSA Capital Partners LLP raised its stake in shares of LGI Homes by 444.3% in the second quarter. GSA Capital Partners LLP now owns 21,362 shares of the financial services provider’s stock valued at $1,233,000 after acquiring an additional 17,437 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of LGI Homes by 29.8% in the second quarter. Public Employees Retirement System of Ohio now owns 41,075 shares of the financial services provider’s stock valued at $2,371,000 after acquiring an additional 9,431 shares during the period. Finally, BlackRock Inc. raised its stake in shares of LGI Homes by 4.8% in 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. Institutional investors and hedge funds own 87.73% 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, 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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