LGI Homes (NASDAQ:LGIH) Receives Neutral Rating from Wedbush

LGI Homes (NASDAQ:LGIH)‘s stock had its “neutral” rating reaffirmed by Wedbush in a research note issued on Tuesday,RTT News reports. They currently have a $115.00 price target on the financial services provider’s stock, down from their previous price target of $125.00. Wedbush’s price objective indicates a potential upside of 35.85% from the stock’s current price.

Separately, JPMorgan Chase & Co. dropped their price objective on LGI Homes from $100.00 to $82.00 and set an “underweight” rating on the stock in a report on Friday, December 13th.

LGI Homes Trading Down 2.6 %

LGI Homes stock traded down $2.24 during midday trading on Tuesday, reaching $84.65. The stock had a trading volume of 249,210 shares, compared to its average volume of 215,302. LGI Homes has a twelve month low of $84.00 and a twelve month high of $130.75. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 10.15 and a beta of 2.02. The firm’s fifty day simple moving average is $101.07 and its two-hundred day simple moving average is $103.88.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.41. The firm had revenue of $651.85 million during the quarter, compared to analyst estimates of $645.27 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company posted $2.84 EPS. Equities analysts anticipate that LGI Homes will post 8.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LGIH. Allspring Global Investments Holdings LLC bought a new position in LGI Homes in the 3rd quarter valued at $43,000. KBC Group NV raised its holdings in shares of LGI Homes by 29.8% in the third quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after buying an additional 168 shares during the last quarter. CWM LLC raised its holdings in shares of LGI Homes by 27.5% in the third quarter. CWM LLC now owns 867 shares of the financial services provider’s stock valued at $103,000 after buying an additional 187 shares during the last quarter. Heritage Family Offices LLP bought a new stake in LGI Homes during the 3rd quarter worth about $218,000. Finally, HighTower Advisors LLC bought a new stake in LGI Homes during the 3rd quarter worth about $229,000. 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.