Seaport Res Ptn Upgrades LGI Homes (NASDAQ:LGIH) to "Hold"

Seaport Res Ptn upgraded shares of LGI Homes (NASDAQ:LGIH - Free Report) from a strong sell rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

A number of other research firms have also weighed in on LGIH. JPMorgan Chase & Co. decreased their target price on shares of LGI Homes from $82.00 to $80.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 14th. JMP Securities reiterated a "market outperform" rating and set a $160.00 price objective on shares of LGI Homes in a research report on Friday, January 10th. Finally, Wedbush restated a "neutral" rating and issued a $115.00 target price (down from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, LGI Homes presently has a consensus rating of "Hold" and an average price target of $118.33.

LGI Homes Price Performance

Shares of NASDAQ LGIH traded down $3.50 during trading on Monday, hitting $89.28. The company had a trading volume of 214,334 shares, compared to its average volume of 171,881. LGI Homes has a fifty-two week low of $82.94 and a fifty-two week high of $130.75. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77. The stock has a fifty day simple moving average of $95.43 and a two-hundred day simple moving average of $103.59. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 10.71 and a beta of 2.02.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.54 by $0.41. 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 10.32% and a net margin of 8.75%. LGI Homes's quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.84 EPS. On average, research analysts expect that LGI Homes will post 8.46 earnings per share for the current year.

Institutional Trading of LGI Homes

Several institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in LGI Homes by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 100,409 shares of the financial services provider's stock worth $8,977,000 after acquiring an additional 2,878 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in shares of LGI Homes by 16.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 20,751 shares of the financial services provider's stock worth $1,855,000 after purchasing an additional 2,923 shares during the period. Rhumbline Advisers grew its holdings in shares of LGI Homes by 3.9% during the 4th quarter. Rhumbline Advisers now owns 64,833 shares of the financial services provider's stock worth $5,796,000 after purchasing an additional 2,460 shares during the period. KBC Group NV increased its position in shares of LGI Homes by 51.6% during the 4th quarter. KBC Group NV now owns 1,110 shares of the financial services provider's stock worth $99,000 after purchasing an additional 378 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in LGI Homes by 112.9% in the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider's stock valued at $31,000 after buying an additional 184 shares during the period. Hedge funds and other 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.