LGI Homes (NASDAQ:LGIH) Receives Market Outperform Rating from JMP Securities

LGI Homes (NASDAQ:LGIH)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a report issued on Friday,Benzinga reports. They currently have a $160.00 price target on the financial services provider’s stock. JMP Securities’ target price would suggest a potential upside of 91.55% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reduced 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 note on Friday, December 13th. Wedbush reiterated a “neutral” rating and set a $115.00 price target (down previously from $125.00) on shares of LGI Homes in a research report on Tuesday.

LGI Homes Stock Performance

LGIH stock traded down $2.34 on Friday, reaching $83.53. 23,117 shares of the company were exchanged, compared to its average volume of 180,732. LGI Homes has a 12 month low of $82.94 and a 12 month high of $130.75. The stock’s fifty day moving average price is $100.09 and its 200 day moving average price is $103.59. The firm has a market capitalization of $1.96 billion, a PE ratio of 10.02 and a beta of 2.02. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $645.27 million. During the same quarter in the previous year, the company earned $2.84 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts anticipate that LGI Homes will post 8.72 EPS for the current fiscal year.

Institutional Trading of LGI Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in LGIH. Commonwealth Equity Services LLC raised its holdings in LGI Homes by 38.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,702 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 755 shares during the last quarter. Arizona State Retirement System increased its stake in shares of LGI Homes by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 5,940 shares of the financial services provider’s stock valued at $532,000 after acquiring an additional 112 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of LGI Homes by 3.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 18,649 shares of the financial services provider’s stock valued at $1,669,000 after acquiring an additional 707 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of LGI Homes by 133.4% in the 2nd quarter. Headlands Technologies LLC now owns 2,602 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 1,487 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of LGI Homes by 21.3% in the 2nd 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 last quarter. 84.89% of the stock is owned by institutional investors.

LGI Homes Company Profile

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.