Wedbush Reaffirms Neutral Rating for LGI Homes (NASDAQ:LGIH)

LGI Homes (NASDAQ:LGIH)‘s stock had its “neutral” rating reiterated by stock analysts at Wedbush in a research note issued to investors on Tuesday,RTT News reports. They currently have a $115.00 price target on the financial services provider’s stock, down from their prior price target of $125.00. Wedbush’s target price indicates a potential upside of 33.92% from the company’s current price.

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

LGI Homes Stock Up 1.4 %

LGIH stock opened at $85.87 on Tuesday. The company has a market capitalization of $2.02 billion, a P/E ratio of 10.30 and a beta of 2.02. The firm has a 50 day simple moving average of $100.72 and a 200-day simple moving average of $103.84. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. LGI Homes has a twelve month low of $82.94 and a twelve month high of $130.75.

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

Hedge Funds Weigh In On LGI Homes

Large investors have recently bought and sold shares of the business. Denali Advisors LLC acquired a new stake in shares of LGI Homes during the 2nd quarter worth approximately $993,000. Citigroup Inc. lifted its stake in LGI Homes by 60.9% in the third quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider’s stock valued at $4,954,000 after buying an additional 15,818 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in LGI Homes by 5.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,232 shares of the financial services provider’s stock valued at $383,000 after buying an additional 176 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of LGI Homes by 21.3% during the second quarter. American Century Companies Inc. now owns 29,358 shares of the financial services provider’s stock valued at $2,627,000 after acquiring an additional 5,159 shares during the period. Finally, Disciplined Growth Investors Inc. MN grew its position in shares of LGI Homes by 1.7% during the second quarter. Disciplined Growth Investors Inc. MN now owns 906,198 shares of the financial services provider’s stock worth $81,096,000 after acquiring an additional 15,340 shares during the last quarter. 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.