LGI Homes (NASDAQ:LGIH) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of LGI Homes (NASDAQ:LGIH) from a hold rating to a buy rating in a report issued on Wednesday, Zacks.com reports. The brokerage currently has $83.00 price target on the financial services provider’s stock.

According to Zacks, “LGI Homes, Inc. is engaged in the design and construction of entry-level homes across Texas, Arizona, Florida and Georgia. The company focuses on converting renters of apartments and single-family homes into homeowners by offering homes at affordable locations. LGI Homes, Inc. is headquartered in The Woodlands, Texas. “

Several other equities analysts also recently commented on the stock. BidaskClub downgraded shares of Weyco Group from a sell rating to a strong sell rating in a research note on Saturday, July 13th. Wells Fargo & Co increased their price objective on shares of Wingstop from $76.00 to $84.00 and gave the company an outperform rating in a research note on Monday, May 6th. JMP Securities set a $79.00 price objective on shares of LGI Homes and gave the company a buy rating in a research note on Tuesday, April 9th. Finally, ValuEngine raised shares of Valmont Industries from a sell rating to a hold rating in a research note on Friday, July 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $71.10.

Shares of LGI Homes stock opened at $71.54 on Wednesday. The stock’s 50 day moving average price is $71.95. LGI Homes has a 1-year low of $37.16 and a 1-year high of $76.93. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.35 and a current ratio of 16.86. The company has a market cap of $1.64 billion, a P/E ratio of 12.19, a PEG ratio of 0.98 and a beta of 0.57.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.13). LGI Homes had a return on equity of 23.28% and a net margin of 9.67%. The firm had revenue of $287.60 million for the quarter, compared to the consensus estimate of $288.06 million. During the same period last year, the company posted $1.10 EPS. The business’s revenue was up 3.1% on a year-over-year basis. As a group, equities analysts predict that LGI Homes will post 6.65 earnings per share for the current year.

In other news, CEO Eric Thomas Lipar sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $70.91, for a total transaction of $709,100.00. Following the completion of the transaction, the chief executive officer now owns 544,509 shares of the company’s stock, valued at $38,611,133.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven Randal Smith sold 2,500 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $74.49, for a total transaction of $186,225.00. Following the transaction, the director now directly owns 12,407 shares of the company’s stock, valued at approximately $924,197.43. The disclosure for this sale can be found here. 13.40% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in LGIH. FMR LLC raised its stake in shares of LGI Homes by 40.3% during the fourth quarter. FMR LLC now owns 2,371,309 shares of the financial services provider’s stock valued at $107,231,000 after acquiring an additional 681,165 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of LGI Homes during the fourth quarter valued at $9,605,000. Pier Capital LLC bought a new position in shares of LGI Homes during the first quarter valued at $4,979,000. Marshall Wace LLP bought a new position in shares of LGI Homes during the first quarter valued at $3,678,000. Finally, Royce & Associates LP raised its stake in shares of LGI Homes by 21.3% during the first quarter. Royce & Associates LP now owns 295,020 shares of the financial services provider’s stock valued at $17,772,000 after acquiring an additional 51,728 shares during the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

About LGI Homes

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

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