LGI Homes (NASDAQ:LGIH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of LGI Homes (NASDAQ:LGIH) from a sell rating to a hold rating in a research report released on Sunday morning.

Several other analysts also recently issued reports on the company. Weiss Ratings raised LGI Homes from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. upped their price objective on LGI Homes from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Finally, Zacks Research raised LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, LGI Homes presently has a consensus rating of “Hold” and an average price target of $72.75.

LGI Homes Price Performance

LGIH opened at $56.39 on Friday. The company has a quick ratio of 0.61, a current ratio of 17.74 and a debt-to-equity ratio of 0.74. The company’s 50-day moving average price is $58.43 and its 200 day moving average price is $50.71. LGI Homes has a fifty-two week low of $33.55 and a fifty-two week high of $69.50. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 19.79 and a beta of 1.83.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $516.05 million during the quarter, compared to the consensus estimate of $489.23 million. LGI Homes had a return on equity of 3.55% and a net margin of 3.88%.LGI Homes’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.36 earnings per share.

Institutional Investors Weigh In On LGI Homes

Several large investors have recently made changes to their positions in LGIH. BlackRock Inc. acquired a new stake in LGI Homes in the second quarter worth about $226,799,000. Atlas FRM LLC acquired a new position in LGI Homes during the 2nd quarter valued at about $61,578,560,000. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of LGI Homes during the 2nd quarter worth about $11,155,144,000. Bank of New York Mellon Corp bought a new stake in shares of LGI Homes during the 2nd quarter worth about $7,625,000. Finally, CDAM UK Ltd raised its position in shares of LGI Homes by 15.4% during the 4th quarter. CDAM UK Ltd now owns 743,153 shares of the financial services provider’s stock worth $31,926,000 after buying an additional 99,090 shares in the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

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.