LGI Homes’ (LGIH) “Neutral” Rating Reiterated at Wedbush

Wedbush reissued their neutral rating on shares of LGI Homes (NASDAQ:LGIH) in a research note released on Tuesday,RTT News reports. They currently have a $115.00 price target on the financial services provider’s stock, down from their previous price target of $125.00.

Separately, JPMorgan Chase & Co. cut their price objective on LGI Homes from $100.00 to $82.00 and set an “underweight” rating on the stock in a research report on Friday, December 13th.

LGI Homes Price Performance

Shares of LGIH stock opened at $85.87 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. LGI Homes has a fifty-two week low of $82.94 and a fifty-two week high of $130.75. The firm has a market cap of $2.02 billion, a P/E ratio of 10.30 and a beta of 2.02. The business’s 50 day moving average price is $100.40 and its 200-day moving average price is $103.72.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business had revenue of $651.85 million for the quarter, compared to the consensus estimate of $645.27 million. During the same period in the previous year, the firm earned $2.84 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities research analysts anticipate that LGI Homes will post 8.72 earnings per share for the current year.

Institutional Investors Weigh In On LGI Homes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in shares of LGI Homes by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,506,611 shares of the financial services provider’s stock worth $134,827,000 after purchasing an additional 53,031 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its stake in LGI Homes by 3.7% during the third quarter. Disciplined Growth Investors Inc. MN now owns 939,504 shares of the financial services provider’s stock valued at $111,350,000 after buying an additional 33,306 shares during the last quarter. River Road Asset Management LLC boosted its holdings in LGI Homes by 45.9% in the third quarter. River Road Asset Management LLC now owns 695,455 shares of the financial services provider’s stock worth $82,425,000 after acquiring an additional 218,923 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of LGI Homes by 1.5% in the third quarter. Geode Capital Management LLC now owns 497,039 shares of the financial services provider’s stock worth $58,920,000 after acquiring an additional 7,129 shares during the last quarter. Finally, Altshuler Shaham Ltd increased its holdings in shares of LGI Homes by 5,860.2% during the second quarter. Altshuler Shaham Ltd now owns 454,760 shares of the financial services provider’s stock valued at $40,696,000 after acquiring an additional 447,130 shares in the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Company Profile

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.