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

LGI Homes (NASDAQ:LGIH)‘s stock had its “neutral” rating reissued by analysts at Wedbush in a report issued on Tuesday,RTT News reports. They presently have a $115.00 price target on the financial services provider’s stock, down from their prior price target of $125.00. Wedbush’s price objective points to a potential upside of 33.92% from the stock’s previous close.

Separately, JPMorgan Chase & Co. decreased 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 Stock Up 1.4 %

Shares of LGI Homes stock opened at $85.87 on Tuesday. The company has a market cap of $2.02 billion, a P/E ratio of 10.30 and a beta of 2.02. LGI Homes has a one year low of $82.94 and a one year high of $130.75. The firm has a fifty day moving average of $100.72 and a two-hundred day moving average of $103.84. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $645.27 million. During the same period last year, the firm earned $2.84 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts forecast that LGI Homes will post 8.72 earnings per share for the current year.

Institutional Investors Weigh In On LGI Homes

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in LGI Homes by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,506,611 shares of the financial services provider’s stock worth $134,827,000 after acquiring an additional 53,031 shares during the period. Disciplined Growth Investors Inc. MN lifted its position in shares of LGI Homes by 3.7% during the third quarter. Disciplined Growth Investors Inc. MN now owns 939,504 shares of the financial services provider’s stock worth $111,350,000 after purchasing an additional 33,306 shares in the last quarter. River Road Asset Management LLC boosted its stake in shares of LGI Homes by 45.9% in the third 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 period. Geode Capital Management LLC grew its holdings in LGI Homes by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 497,039 shares of the financial services provider’s stock valued at $58,920,000 after purchasing an additional 7,129 shares in the last quarter. Finally, Altshuler Shaham Ltd increased its stake in LGI Homes by 5,860.2% during the 2nd quarter. Altshuler Shaham Ltd now owns 454,760 shares of the financial services provider’s stock worth $40,696,000 after buying an additional 447,130 shares during the period. 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.