Wedbush Reaffirms “Neutral” Rating for LGI Homes (NASDAQ:LGIH)

LGI Homes (NASDAQ:LGIH)‘s stock had its “neutral” rating restated by investment analysts at Wedbush in a note issued to investors on Friday, Benzinga reports. They presently have a $125.00 target price on the financial services provider’s stock. Wedbush’s price target suggests a potential upside of 12.21% from the stock’s previous close. Wedbush also issued estimates for LGI Homes’ Q4 2024 earnings at $2.83 EPS, Q2 2025 earnings at $2.67 EPS and Q4 2025 earnings at $3.25 EPS.

Separately, JPMorgan Chase & Co. reduced their price target on LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Two 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. Based on data from MarketBeat.com, LGI Homes presently has an average rating of “Hold” and an average target price of $126.00.

LGI Homes Trading Down 3.4 %

Shares of LGIH opened at $111.40 on Friday. LGI Homes has a 1-year low of $84.00 and a 1-year high of $136.89. The company has a current ratio of 12.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. The firm’s 50-day moving average price is $109.25 and its 200-day moving average price is $102.00. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 13.93 and a beta of 1.95.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.48 EPS for the quarter, topping the consensus estimate of $2.24 by $0.24. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The business had revenue of $602.50 million during the quarter, compared to analyst estimates of $617.44 million. During the same period last year, the business posted $2.25 earnings per share. LGI Homes’s quarterly revenue was down 6.6% compared to the same quarter last year. Sell-side analysts anticipate that LGI Homes will post 9.01 EPS for the current year.

Institutional Trading of LGI Homes

A number of hedge funds have recently made changes to their positions in LGIH. First Horizon Advisors Inc. increased its position in LGI Homes by 32.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock valued at $39,000 after buying an additional 108 shares in the last quarter. Innealta Capital LLC bought a new position in shares of LGI Homes during the second quarter valued at $39,000. Mather Group LLC. purchased a new position in shares of LGI Homes in the 1st quarter worth about $47,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in LGI Homes in the 1st quarter worth about $52,000. Finally, Headlands Technologies LLC purchased a new stake in LGI Homes during the 1st quarter valued at about $130,000. 84.89% of the stock is owned by institutional investors.

About LGI Homes

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.