LGI Homes (NASDAQ:LGIH) Earns "Neutral" Rating from Wedbush

LGI Homes (NASDAQ:LGIH - Get Free Report)'s stock had its "neutral" rating reissued by equities research analysts at Wedbush in a research note issued to investors on Wednesday, RTT News reports. They presently have a $125.00 price target on the financial services provider's stock. Wedbush's price target would suggest a potential upside of 13.66% from the stock's previous close.

Separately, JPMorgan Chase & Co. lowered their price objective on LGI Homes from $95.00 to $93.00 and set an "underweight" rating for the company in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $126.00.

LGI Homes Price Performance

Shares of NASDAQ:LGIH traded down $1.18 during midday trading on Wednesday, reaching $109.98. The company's stock had a trading volume of 342,294 shares, compared to its average volume of 177,565. LGI Homes has a fifty-two week low of $84.00 and a fifty-two week high of $136.89. The company has a market capitalization of $2.58 billion, a P/E ratio of 13.36 and a beta of 1.97. The company has a debt-to-equity ratio of 0.78, a current ratio of 12.63 and a quick ratio of 0.49. The business's fifty day simple moving average is $110.42 and its 200-day simple moving average is $102.51.

LGI Homes (NASDAQ:LGIH - Get Free Report) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.42. The company had revenue of $651.85 million during the quarter, compared to analyst estimates of $645.27 million. LGI Homes had a return on equity of 10.45% and a net margin of 8.78%. The firm's quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company posted $2.84 earnings per share. As a group, equities research analysts expect that LGI Homes will post 8.82 EPS for the current fiscal year.

Hedge Funds Weigh In On LGI Homes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in LGI Homes during the third quarter worth about $43,000. First Horizon Advisors Inc. boosted its holdings in LGI Homes by 32.5% during the second quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider's stock worth $39,000 after buying an additional 108 shares during the last quarter. Innealta Capital LLC bought a new position in LGI Homes during the second quarter worth about $39,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in LGI Homes during the first quarter worth about $52,000. Finally, KBC Group NV boosted its holdings in LGI Homes by 29.8% during the third quarter. KBC Group NV now owns 732 shares of the financial services provider's stock worth $87,000 after buying an additional 168 shares during the last quarter. Institutional investors own 84.89% of the company's stock.

About LGI Homes

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.