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

LGI Homes (NASDAQ:LGIH)‘s stock had its “neutral” rating restated by equities researchers at Wedbush in a note issued to investors on Tuesday,RTT News reports. They presently have a $115.00 price objective on the financial services provider’s stock, down from their prior price objective of $125.00. Wedbush’s target price suggests a potential upside of 35.85% from the stock’s previous close.

Separately, JPMorgan Chase & Co. reduced their price objective 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.

LGI Homes Trading Down 2.6 %

Shares of LGIH traded down $2.24 during trading hours on Tuesday, hitting $84.65. 249,210 shares of the stock traded hands, compared to its average volume of 215,302. The business has a fifty day moving average of $101.07 and a 200-day moving average of $103.88. The firm has a market capitalization of $1.99 billion, a PE ratio of 10.15 and a beta of 2.02. LGI Homes has a 1-year low of $84.00 and a 1-year high of $130.75. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77.

LGI Homes (NASDAQ:LGIH) last released its 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 for the quarter, compared to the consensus estimate of $645.27 million. During the same period in the prior year, the company posted $2.84 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. Analysts expect that LGI Homes will post 8.72 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its holdings in shares of LGI Homes by 38.8% in the second quarter. Commonwealth Equity Services LLC now owns 2,702 shares of the financial services provider’s stock worth $242,000 after acquiring an additional 755 shares in the last quarter. Arizona State Retirement System raised its holdings in LGI Homes by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 5,940 shares of the financial services provider’s stock worth $532,000 after buying an additional 112 shares during the period. Texas Permanent School Fund Corp raised its holdings in LGI Homes by 3.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 18,649 shares of the financial services provider’s stock worth $1,669,000 after buying an additional 707 shares during the period. LGT Fund Management Co Ltd. lifted its stake in LGI Homes by 109.8% in the second quarter. LGT Fund Management Co Ltd. now owns 68,499 shares of the financial services provider’s stock valued at $6,130,000 after buying an additional 35,854 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in shares of LGI Homes by 133.4% in the second quarter. Headlands Technologies LLC now owns 2,602 shares of the financial services provider’s stock valued at $233,000 after buying an additional 1,487 shares during the period. Institutional investors own 84.89% of the company’s stock.

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.