LGI Homes (NASDAQ:LGIH) Price Target Raised to $95.00

LGI Homes (NASDAQ:LGIH) had its price target hoisted by Citizens Jmp from $85.00 to $95.00 in a report released on Wednesday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on LGIH. Citigroup restated an “outperform” rating on shares of LGI Homes in a research report on Wednesday. Capital One Financial set a $60.00 price target on shares of LGI Homes in a report on Thursday, October 9th. Wedbush reaffirmed a “neutral” rating and set a $95.00 price objective on shares of LGI Homes in a report on Monday, October 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. boosted their target price on LGI Homes from $47.00 to $48.50 and gave the stock an “underweight” rating in a research report on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $76.70.

LGI Homes Stock Up 13.9%

NASDAQ LGIH opened at $53.28 on Wednesday. The stock’s 50 day simple moving average is $46.94 and its 200 day simple moving average is $52.18. LGI Homes has a one year low of $39.70 and a one year high of $97.25. The firm has a market cap of $1.23 billion, a PE ratio of 11.76 and a beta of 1.88. The company has a debt-to-equity ratio of 0.84, a current ratio of 18.02 and a quick ratio of 0.58.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.09). LGI Homes had a return on equity of 5.50% and a net margin of 5.93%.The business had revenue of $396.63 million during the quarter, compared to analyst estimates of $421.66 million. As a group, sell-side analysts forecast that LGI Homes will post 8.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LGI Homes

A number of institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its stake in LGI Homes by 1,158.0% in the fourth quarter. SG Americas Securities LLC now owns 91,471 shares of the financial services provider’s stock valued at $3,930,000 after buying an additional 84,200 shares during the period. Everhart Financial Group Inc. increased its stake in shares of LGI Homes by 18.1% in the 4th quarter. Everhart Financial Group Inc. now owns 9,211 shares of the financial services provider’s stock valued at $396,000 after acquiring an additional 1,413 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of LGI Homes by 20.0% in the 4th quarter. GAMMA Investing LLC now owns 3,715 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 619 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of LGI Homes by 244.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 61,384 shares of the financial services provider’s stock valued at $3,174,000 after acquiring an additional 43,572 shares during the period. Finally, Voss Capital LP boosted its stake in LGI Homes by 33.3% during the 3rd quarter. Voss Capital LP now owns 300,000 shares of the financial services provider’s stock worth $15,513,000 after acquiring an additional 75,000 shares during the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.

About LGI Homes

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.