LGI Homes (NASDAQ:LGIH) Price Target Cut to $140.00

LGI Homes (NASDAQ:LGIHGet Rating) had its target price dropped by stock analysts at JMP Securities from $175.00 to $140.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “market outperform” rating on the financial services provider’s stock. JMP Securities’ price target would indicate a potential upside of 26.23% from the company’s previous close.

Several other research analysts have also recently weighed in on LGIH. TheStreet cut shares of LGI Homes from a “b-” rating to a “c+” rating in a report on Thursday, April 7th. StockNews.com raised shares of LGI Homes from a “sell” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of LGI Homes from $85.00 to $77.00 and set an “underweight” rating on the stock in a report on Tuesday, July 12th. BTIG Research raised shares of LGI Homes from a “sell” rating to a “neutral” rating in a report on Wednesday, April 20th. Finally, Wells Fargo & Company lowered their target price on shares of LGI Homes from $108.00 to $90.00 and set an “equal weight” rating on the stock in a report on Friday, June 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $101.25.

LGI Homes Trading Up 3.9 %

Shares of NASDAQ:LGIH opened at $110.91 on Wednesday. LGI Homes has a 52-week low of $71.73 and a 52-week high of $165.91. The company has a market capitalization of $2.62 billion, a P/E ratio of 6.51 and a beta of 1.57. The company has a 50-day simple moving average of $95.44 and a 200 day simple moving average of $104.65. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 13.59.

LGI Homes (NASDAQ:LGIHGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The financial services provider reported $5.20 earnings per share for the quarter, beating the consensus estimate of $4.53 by $0.67. The firm had revenue of $723.07 million for the quarter, compared to analysts’ expectations of $715.65 million. LGI Homes had a net margin of 14.67% and a return on equity of 29.21%. The business’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $4.71 EPS. Sell-side analysts forecast that LGI Homes will post 19.15 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ryan Edone purchased 1,000 shares of LGI Homes stock in a transaction that occurred on Wednesday, June 15th. The shares were acquired at an average price of $82.38 per share, for a total transaction of $82,380.00. Following the transaction, the director now owns 26,778 shares of the company’s stock, valued at approximately $2,205,971.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.50% of the stock is currently owned by company insiders.

Institutional Trading of LGI Homes

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

About LGI Homes

(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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