Brokerages Set LGI Homes, Inc. (NASDAQ:LGIH) Target Price at $122.33

LGI Homes, Inc. (NASDAQ:LGIH) has received a consensus rating of “Hold” from the three analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $122.33.

A number of equities research analysts have recently commented on LGIH shares. Wedbush reiterated a “neutral” rating and set a $125.00 price target on shares of LGI Homes in a report on Wednesday, November 6th. JPMorgan Chase & Co. decreased their target price on shares of 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 Trading Down 1.6 %

Shares of LGI Homes stock opened at $89.59 on Wednesday. LGI Homes has a 1 year low of $84.00 and a 1 year high of $136.36. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The business has a 50 day moving average price of $103.62 and a 200 day moving average price of $103.97. The company has a market capitalization of $2.11 billion, a P/E ratio of 10.74 and a beta of 1.99.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.41. The company had revenue of $651.85 million during the quarter, compared to analysts’ expectations of $645.27 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.84 earnings per share. Sell-side analysts anticipate that LGI Homes will post 8.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LGIH. Innealta Capital LLC acquired a new stake in shares of LGI Homes in the second quarter worth approximately $39,000. Allspring Global Investments Holdings LLC purchased a new position in LGI Homes during the third quarter worth approximately $43,000. KBC Group NV boosted its holdings in shares of LGI Homes by 29.8% in the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 168 shares during the last quarter. CWM LLC grew its stake in shares of LGI Homes by 27.5% during the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider’s stock valued at $103,000 after buying an additional 187 shares during the period. Finally, Heritage Family Offices LLP acquired a new stake in shares of LGI Homes during the 3rd quarter worth $218,000. 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.