LGI Homes (LGIH) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of LGI Homes (NASDAQ:LGIH) from a hold rating to a buy rating in a research note released on Friday.

Several other research firms have also recently weighed in on LGIH. ValuEngine upgraded shares of LGI Homes from a sell rating to a hold rating in a research report on Tuesday, August 28th. Wedbush lowered their price objective on shares of LGI Homes from $65.00 to $60.00 and set a neutral rating for the company in a research report on Wednesday, August 8th. Zacks Investment Research upgraded shares of LGI Homes from a sell rating to a hold rating and set a $66.00 price objective for the company in a research report on Friday, August 10th. JMP Securities set a $60.00 price objective on shares of LGI Homes and gave the company a buy rating in a research report on Wednesday, November 7th. Finally, JPMorgan Chase & Co. upgraded shares of LGI Homes from a neutral rating to an overweight rating and lowered their price objective for the company from $69.00 to $58.50 in a research report on Friday, September 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $56.70.

Shares of LGIH stock opened at $42.80 on Friday. LGI Homes has a 12-month low of $37.16 and a 12-month high of $81.88. The stock has a market cap of $965.93 million, a P/E ratio of 9.05, a PEG ratio of 0.63 and a beta of 0.25. The company has a quick ratio of 1.21, a current ratio of 13.89 and a debt-to-equity ratio of 1.02.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, November 6th. The financial services provider reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.03. The firm had revenue of $380.37 million during the quarter, compared to analysts’ expectations of $378.96 million. LGI Homes had a net margin of 9.99% and a return on equity of 27.08%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.40 EPS. On average, equities research analysts expect that LGI Homes will post 6.1 EPS for the current fiscal year.

In other LGI Homes news, Director Ryan Edone purchased 1,000 shares of the stock in a transaction dated Tuesday, November 13th. The stock was bought at an average price of $41.12 per share, for a total transaction of $41,120.00. Following the transaction, the director now directly owns 23,982 shares in the company, valued at $986,139.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 13.60% of the stock is owned by insiders.

Several large investors have recently modified their holdings of LGIH. First Mercantile Trust Co. acquired a new stake in shares of LGI Homes during the 3rd quarter worth approximately $126,000. Morse Asset Management Inc acquired a new position in LGI Homes during the second quarter valued at approximately $207,000. Atria Investments LLC acquired a new position in LGI Homes during the third quarter valued at approximately $214,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in LGI Homes during the second quarter valued at approximately $221,000. Finally, BRYN MAWR TRUST Co acquired a new position in LGI Homes during the second quarter valued at approximately $228,000. Institutional investors own 92.94% of the company’s stock.

About LGI Homes

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington, Tennessee, and Minnesota markets. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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