Zacks Upgrades LGI Homes to Outperform (LGIH)
LGI Homes (NASDAQ:LGIH) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Friday. The firm currently has a $21.70 price target on the stock. Zacks‘s target price would suggest a potential upside of 14.75% from the company’s current price.
LGI Homes (NASDAQ:LGIH) traded down 2.17% on Friday, hitting $18.91. The stock had a trading volume of 93,317 shares. LGI Homes has a 52 week low of $12.01 and a 52 week high of $22.21. The stock’s 50-day moving average is $19.07 and its 200-day moving average is $17.16. The company has a market cap of $392.6 million and a price-to-earnings ratio of 43.54.
LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Friday, May 16th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.08. The company had revenue of $75.90 million for the quarter, compared to the consensus estimate of $73.87 million. Analysts expect that LGI Homes will post $1.32 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on LGIH. Analysts at Deutsche Bank reiterated a “buy” rating on shares of LGI Homes in a research note on Monday, June 23rd. They now have a $20.00 price target on the stock, up previously from $18.00. Separately, analysts at Sidoti initiated coverage on shares of LGI Homes in a research note on Tuesday, June 3rd. They set a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of LGI Homes from $19.00 to $20.00 in a research note on Monday, May 19th. They now have an “overweight” rating on the stock. Six investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $21.14.
LGI Homes, Inc is a homebuilding company engaged in the design and construction of entry-level homes in markets in Texas, Arizona, Florida and Georgia.
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