LGI Homes (NASDAQ:LGIH) Rating Increased to Hold at Seaport Res Ptn

Seaport Res Ptn upgraded shares of LGI Homes (NASDAQ:LGIH) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages also recently issued reports on LGIH. Wedbush reiterated a “neutral” rating and issued a $115.00 price target (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered their target price on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Finally, JMP Securities restated a “market outperform” rating and issued a $160.00 price target on shares of LGI Homes in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, LGI Homes has a consensus rating of “Hold” and a consensus target price of $118.33.

LGI Homes Stock Performance

NASDAQ:LGIH opened at $92.20 on Monday. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 11.06 and a beta of 2.02. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77. LGI Homes has a 52 week low of $82.94 and a 52 week high of $130.75. The company has a fifty day simple moving average of $96.20 and a two-hundred day simple moving average of $103.87.

LGI Homes (NASDAQ:LGIH) last issued its quarterly 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. The company had revenue of $651.85 million for the quarter, compared to the consensus estimate of $645.27 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. LGI Homes’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.84 EPS. As a group, equities analysts anticipate that LGI Homes will post 8.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LGI Homes

Several large investors have recently bought and sold shares of LGIH. River Road Asset Management LLC lifted its holdings in shares of LGI Homes by 45.9% in the 3rd quarter. River Road Asset Management LLC now owns 695,455 shares of the financial services provider’s stock valued at $82,425,000 after purchasing an additional 218,923 shares during the last quarter. Holocene Advisors LP boosted its holdings in shares of LGI Homes by 386.2% in the third quarter. Holocene Advisors LP now owns 130,968 shares of the financial services provider’s stock valued at $15,522,000 after acquiring an additional 104,030 shares during the period. JPMorgan Chase & Co. grew its position in shares of LGI Homes by 131.4% during the third quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock worth $13,222,000 after acquiring an additional 63,346 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of LGI Homes during the third quarter worth approximately $6,859,000. Finally, Disciplined Growth Investors Inc. MN raised its position in LGI Homes by 3.7% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 939,504 shares of the financial services provider’s stock valued at $111,350,000 after purchasing an additional 33,306 shares during the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

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.