LGI Homes, Inc. (NASDAQ:LGIH) Receives $114.00 Consensus Target Price from Analysts

Shares of LGI Homes, Inc. (NASDAQ:LGIH) have been assigned an average rating of “Hold” from the five analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $114.00.

LGIH has been the subject of a number of research analyst reports. Wedbush reduced their target price on LGI Homes from $97.00 to $88.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. StockNews.com lowered LGI Homes from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, JMP Securities restated a “market outperform” rating and set a $160.00 price objective on shares of LGI Homes in a research note on Tuesday, February 27th.

LGI Homes Trading Up 1.9 %

NASDAQ LGIH opened at $116.37 on Monday. The firm has a market cap of $2.74 billion, a PE ratio of 13.82 and a beta of 1.83. LGI Homes has a 52 week low of $84.15 and a 52 week high of $141.91. The company has a quick ratio of 0.42, a current ratio of 10.66 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average price of $116.24 and a 200 day moving average price of $114.21.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, February 20th. The financial services provider reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.35). The business had revenue of $608.41 million during the quarter, compared to analysts’ expectations of $663.95 million. LGI Homes had a net margin of 8.45% and a return on equity of 11.28%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.45 earnings per share. As a group, sell-side analysts forecast that LGI Homes will post 9.29 EPS for the current fiscal year.

Insider Activity at LGI Homes

In other news, General Counsel Scott James Garber sold 1,212 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $111.95, for a total value of $135,683.40. Following the completion of the sale, the general counsel now directly owns 13,824 shares in the company, valued at $1,547,596.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Michael Larry Snider sold 7,993 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $110.06, for a total value of $879,709.58. Following the transaction, the chief operating officer now directly owns 19,016 shares of the company’s stock, valued at $2,092,900.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Scott James Garber sold 1,212 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $135,683.40. Following the completion of the sale, the general counsel now owns 13,824 shares of the company’s stock, valued at approximately $1,547,596.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,435 shares of company stock worth $2,944,291. 12.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On LGI Homes

A number of large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its position in shares of LGI Homes by 51.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 563,123 shares of the financial services provider’s stock valued at $75,960,000 after buying an additional 190,075 shares during the period. Bank of America Corp DE lifted its stake in LGI Homes by 173.6% during the first quarter. Bank of America Corp DE now owns 167,427 shares of the financial services provider’s stock worth $19,092,000 after purchasing an additional 106,232 shares in the last quarter. CDAM UK Ltd boosted its position in shares of LGI Homes by 14.7% during the fourth quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock worth $89,878,000 after buying an additional 86,265 shares during the period. Barclays PLC raised its holdings in shares of LGI Homes by 213.0% in the 3rd quarter. Barclays PLC now owns 125,904 shares of the financial services provider’s stock valued at $12,525,000 after buying an additional 85,682 shares during the period. Finally, Liontrust Investment Partners LLP boosted its holdings in LGI Homes by 61.4% during the 3rd quarter. Liontrust Investment Partners LLP now owns 218,912 shares of the financial services provider’s stock valued at $21,780,000 after acquiring an additional 83,237 shares during the period. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

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.