LGI Homes (LGIH) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of LGI Homes (NASDAQ:LGIH) from a sell rating to a hold rating in a report issued on Wednesday.

According to Zacks, “LGI Homes, Inc. is engaged in the design and construction of entry-level homes across Texas, Arizona, Florida and Georgia. The company focuses on converting renters of apartments and single-family homes into homeowners by offering homes at affordable locations. LGI Homes, Inc. is headquartered in The Woodlands, Texas. “

LGIH has been the topic of several other reports. ValuEngine cut shares of LGI Homes from a hold rating to a sell rating in a report on Friday, September 7th. JPMorgan Chase & Co. upgraded shares of LGI Homes from a neutral rating to an overweight rating and dropped their target price for the stock from $69.00 to $58.50 in a report on Friday, September 21st. BidaskClub upgraded shares of LGI Homes from a strong sell rating to a sell rating in a report on Friday, August 10th. Finally, Wedbush set a $55.00 target price on shares of LGI Homes and gave the stock a hold rating in a report on Thursday, October 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. LGI Homes currently has a consensus rating of Hold and an average target price of $56.70.

LGIH stock traded up $1.06 during trading on Wednesday, hitting $41.26. The company had a trading volume of 631,151 shares, compared to its average volume of 482,583. The company has a debt-to-equity ratio of 1.02, a current ratio of 13.89 and a quick ratio of 1.47. LGI Homes has a 52-week low of $37.16 and a 52-week high of $81.88. The company has a market capitalization of $905.05 million, a PE ratio of 8.72, a P/E/G ratio of 0.56 and a beta of 0.25.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, November 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.03. LGI Homes had a net margin of 9.99% and a return on equity of 27.08%. The company had revenue of $380.37 million for the quarter, compared to analysts’ expectations of $378.96 million. During the same period in the prior year, the business earned $1.40 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts forecast that LGI Homes will post 6.07 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of LGIH. First Mercantile Trust Co. bought a new position in LGI Homes during the 3rd quarter worth about $126,000. Morse Asset Management Inc bought a new stake in shares of LGI Homes in the 2nd quarter valued at about $207,000. Atria Investments LLC bought a new stake in shares of LGI Homes in the 3rd quarter valued at about $214,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of LGI Homes in the 2nd quarter valued at about $221,000. Finally, BRYN MAWR TRUST Co bought a new stake in shares of LGI Homes in the 2nd quarter valued at about $228,000. Institutional investors own 87.73% of the company’s stock.

About LGI Homes

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington, Tennessee, and Minnesota markets. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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