LGI Homes’ (LGIH) Neutral Rating Reaffirmed at Wedbush

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

Separately, JPMorgan Chase & Co. cut their target price on shares of LGI Homes from $100.00 to $82.00 and set an “underweight” rating for the company in a research note on Friday, December 13th.

LGI Homes Trading Down 2.6 %

LGI Homes stock opened at $84.65 on Tuesday. LGI Homes has a 52 week low of $84.00 and a 52 week high of $130.75. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. The firm has a market capitalization of $1.99 billion, a PE ratio of 10.15 and a beta of 2.02. The business’s 50-day simple moving average is $100.72 and its 200-day simple moving average is $103.84.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results 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. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company 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 business posted $2.84 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts forecast that LGI Homes will post 8.72 earnings per share for the current year.

Institutional Trading of LGI Homes

Several institutional investors have recently modified their holdings of LGIH. Altshuler Shaham Ltd raised its stake in shares of LGI Homes by 5,860.2% in the second quarter. Altshuler Shaham Ltd now owns 454,760 shares of the financial services provider’s stock valued at $40,696,000 after purchasing an additional 447,130 shares in the last quarter. Khrom Capital Management LLC bought a new position in shares of LGI Homes during the 2nd quarter worth about $21,477,000. River Road Asset Management LLC boosted its position in shares of LGI Homes by 45.9% during the 3rd quarter. River Road Asset Management LLC now owns 695,455 shares of the financial services provider’s stock valued at $82,425,000 after acquiring an additional 218,923 shares in the last quarter. Holocene Advisors LP boosted its position in shares of LGI Homes by 386.2% during the 3rd quarter. Holocene Advisors LP now owns 130,968 shares of the financial services provider’s stock valued at $15,522,000 after acquiring an additional 104,030 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in LGI Homes by 51.8% in the second quarter. Marshall Wace LLP now owns 269,798 shares of the financial services provider’s stock valued at $24,144,000 after acquiring an additional 92,081 shares during the period. Institutional investors and hedge funds 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.