LGI Homes (NASDAQ:LGIH) Price Target Cut to $93.00 by Analysts at Wedbush

LGI Homes (NASDAQ:LGIH - Get Free Report) had its price objective lowered by investment analysts at Wedbush from $100.00 to $93.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. Wedbush's price target suggests a potential upside of 87.16% from the company's previous close.

Separately, JMP Securities restated a "market outperform" rating and issued a $140.00 price target on shares of LGI Homes in a research report on Wednesday, April 30th.

LGI Homes Price Performance

Shares of LGIH traded down $1.60 during trading hours on Thursday, reaching $49.69. The company had a trading volume of 350,778 shares, compared to its average volume of 249,504. The firm has a 50 day simple moving average of $56.23 and a 200-day simple moving average of $76.80. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 5.96 and a beta of 1.93. LGI Homes has a 12-month low of $47.79 and a 12-month high of $125.83.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.29). LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company had revenue of $351.42 million during the quarter, compared to analysts' expectations of $380.07 million. During the same period last year, the business posted $0.72 earnings per share. The company's quarterly revenue was down 10.1% on a year-over-year basis. Research analysts expect that LGI Homes will post 8.46 earnings per share for the current year.

Insider Activity

In other news, COO Michael Larry Snider sold 1,105 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $75.94, for a total transaction of $83,913.70. Following the completion of the sale, the chief operating officer now owns 27,102 shares in the company, valued at approximately $2,058,125.88. The trade was a 3.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.30% of the company's stock.

Hedge Funds Weigh In On LGI Homes

Large investors have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in LGI Homes by 112.9% during the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 184 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of LGI Homes by 12,620.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 636 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 631 shares during the period. Sterling Capital Management LLC raised its stake in LGI Homes by 801.5% during the 4th quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 545 shares during the period. GAMMA Investing LLC raised its position in LGI Homes by 219.1% during the first quarter. GAMMA Investing LLC now owns 887 shares of the financial services provider's stock valued at $59,000 after buying an additional 609 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of LGI Homes in the 1st quarter valued at about $71,000. 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.