Wall Street Zen Upgrades LGI Homes (NASDAQ:LGIH) to "Hold"

Key Points

• Wall Street Zen upgraded LGI Homes from “Sell” to “Hold,” while the broader analyst consensus remains “Hold” with a $72.75 price target.
• LGI Homes reported quarterly earnings of $1.16 per share, beating estimates of $0.98, while revenue reached $516.05 million, up 6.7% year over year.
• LGIH shares opened at $59.80, with a market capitalization of $1.39 billion and a 52-week range of $33.55 to $69.50; institutional investors own approximately 84.89% of the stock.

LGI Homes (NASDAQ:LGIH - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Sunday.

Several other research analysts also recently commented on LGIH. Weiss Ratings raised LGI Homes from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. increased their price target on LGI Homes from $38.00 to $41.00 and gave the company an "underweight" rating in a research note on Thursday, April 30th. Finally, Zacks Research upgraded LGI Homes from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, LGI Homes currently has an average rating of "Hold" and a consensus price target of $72.75.

LGI Homes Price Performance

Shares of NASDAQ:LGIH opened at $59.80 on Friday. The firm has a market cap of $1.39 billion, a PE ratio of 20.98 and a beta of 1.83. The firm's fifty day moving average is $58.20 and its 200-day moving average is $50.60. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.61 and a current ratio of 17.74. LGI Homes has a 52 week low of $33.55 and a 52 week high of $69.50.

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

Institutional Investors Weigh In On LGI Homes

Several large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its position in LGI Homes by 75.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 237 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of LGI Homes by 106.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider's stock worth $30,000 after acquiring an additional 305 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of LGI Homes in the 4th quarter worth about $29,000. Kemnay Advisory Services Inc. acquired a new position in shares of LGI Homes in the 4th quarter valued at about $32,000. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of LGI Homes by 1,759.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 827 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

About LGI Homes

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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