Wells Fargo & Company Lowers LGI Homes (NASDAQ:LGIH) Price Target to $90.00

Posted by on Jun 17th, 2022

LGI Homes (NASDAQ:LGIH – Get Rating) had its price objective decreased by investment analysts at Wells Fargo & Company from $108.00 to $90.00 in a research note issued on Friday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 17.49% from the company’s current price.

Other equities analysts also recently issued research reports about the company. TheStreet downgraded LGI Homes from a “b-” rating to a “c+” rating in a research report on Thursday, April 7th. JPMorgan Chase & Co. lowered their target price on LGI Homes from $96.00 to $81.00 and set an “underweight” rating for the company in a report on Wednesday, April 13th. BTIG Research raised LGI Homes from a “sell” rating to a “neutral” rating in a report on Wednesday, April 20th. Finally, StockNews.com downgraded LGI Homes from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $111.00.

NASDAQ LGIH opened at $76.60 on Friday. LGI Homes has a 52-week low of $75.54 and a 52-week high of $175.90. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 4.63 and a beta of 1.48. The company’s fifty day moving average is $94.16 and its two-hundred day moving average is $117.32. The company has a debt-to-equity ratio of 0.71, a current ratio of 14.77 and a quick ratio of 0.86.

LGI Homes (NASDAQ:LGIH – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The financial services provider reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.60. LGI Homes had a net margin of 14.14% and a return on equity of 30.05%. The business had revenue of $546.05 million for the quarter, compared to analysts’ expectations of $530.07 million. During the same period last year, the business earned $3.95 earnings per share. The business’s quarterly revenue was down 22.7% on a year-over-year basis. As a group, sell-side analysts expect that LGI Homes will post 19.84 earnings per share for the current fiscal year.

In other LGI Homes news, Director Ryan Edone purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were bought at an average price of $82.38 per share, with a total value of $82,380.00. Following the completion of the purchase, the director now directly owns 26,778 shares in the company, valued at $2,205,971.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.50% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. grew its stake in LGI Homes by 298.0% in the fourth quarter. First Horizon Advisors Inc. now owns 203 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 152 shares in the last quarter. Rise Advisors LLC acquired a new stake in LGI Homes during the fourth quarter worth approximately $33,000. UMB Bank N A MO bought a new stake in LGI Homes during the fourth quarter worth $36,000. Confluence Wealth Services Inc. bought a new position in shares of LGI Homes in the 4th quarter valued at $44,000. Finally, Covestor Ltd acquired a new stake in LGI Homes in the fourth quarter valued at $69,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

LGI Homes Company Profile (Get Rating)

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 companies looking to acquire single-family rental properties.

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