LGI Homes, Inc. (NASDAQ:LGIH) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analysts have a consensus “Hold” rating on LGI Homes, split evenly among two buy, two hold, and two sell recommendations. The average 12-month price target is $72.75.
• LGI Homes exceeded quarterly expectations, reporting EPS of $1.16 versus the $0.98 consensus and revenue of $516.05 million versus estimates of $489.23 million; revenue increased 6.7% year over year.
• Institutional investors own 84.89% of the company, while LGIH shares opened at $58.62 and have traded between $33.55 and $69.50 over the past year.

Shares of LGI Homes, Inc. (NASDAQ:LGIH - Get Free Report) have been assigned a consensus recommendation of "Hold" from the six brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $72.75.

A number of research analysts have commented on LGIH shares. Zacks Research raised shares of LGI Homes from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 21st. Wall Street Zen raised shares of LGI Homes from a "sell" rating to a "hold" rating in a research report on Sunday. JPMorgan Chase & Co. increased their price objective on shares of LGI Homes from $38.00 to $41.00 and gave the company an "underweight" rating in a research note on Thursday, April 30th. Finally, Weiss Ratings raised shares of LGI Homes from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, August 5th.

LGI Homes Price Performance

Shares of LGIH stock opened at $58.62 on Tuesday. LGI Homes has a twelve month low of $33.55 and a twelve month high of $69.50. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 20.57 and a beta of 1.83. The stock has a fifty day simple moving average of $58.37 and a two-hundred day simple moving average of $50.66. The company has a current ratio of 17.74, a quick ratio of 0.61 and a debt-to-equity ratio of 0.74.

LGI Homes (NASDAQ:LGIH - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.16 EPS for the quarter, beating the consensus estimate of $0.98 by $0.18. The firm had revenue of $516.05 million for the quarter, compared to analyst estimates of $489.23 million. LGI Homes had a return on equity of 3.55% and a net margin of 3.88%.The business's revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of LGI Homes during the 2nd quarter worth $93,000. Corient Private Wealth LP bought a new stake in LGI Homes during the second quarter valued at about $336,000. Philadelphia Financial Management of San Francisco LLC purchased a new position in LGI Homes in the second quarter valued at about $11,155,144,000. Bank of America Corp DE purchased a new position in LGI Homes in the second quarter valued at about $5,048,000. Finally, Jupiter Topco LLC bought a new position in LGI Homes in the second quarter worth about $602,000. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

LGI Homes Company Profile

LGI Homes, Inc NASDAQ: LGIH is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.

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