LGI Homes Inc. (NASDAQ:LGIH) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $39.00 price target on the stock. Zacks Investment Research’s target price would indicate a potential upside of 15.86% from the company’s current price.

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 research firms have also weighed in on LGIH. Wells Fargo & Co. began coverage on LGI Homes in a research note on Wednesday, September 28th. They set an “outperform” rating for the company. JMP Securities reissued a “buy” rating on shares of LGI Homes in a research note on Saturday, July 9th. Six equities research analysts have rated the stock with a buy rating, LGI Homes currently has a consensus rating of “Buy” and a consensus price target of $40.33.

Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

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Shares of LGI Homes (NASDAQ:LGIH) traded down 4.02% during midday trading on Wednesday, hitting $33.66. The stock had a trading volume of 728,774 shares. The firm has a 50-day moving average price of $36.44 and a 200-day moving average price of $31.23. The firm has a market cap of $707.63 million, a price-to-earnings ratio of 11.12 and a beta of -0.01. LGI Homes has a 1-year low of $18.74 and a 1-year high of $40.47.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.09. The business earned $222.72 million during the quarter, compared to analyst estimates of $219.52 million. LGI Homes had a return on equity of 24.52% and a net margin of 8.63%. The company’s revenue was up 40.2% compared to the same quarter last year. During the same period last year, the company posted $0.66 EPS. On average, equities analysts anticipate that LGI Homes will post $3.39 EPS for the current fiscal year.

In related news, insider Eric Thomas Lipar sold 10,000 shares of the stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $36.66, for a total transaction of $366,600.00. Following the completion of the sale, the insider now directly owns 528,933 shares in the company, valued at $19,390,683.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 17.50% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB purchased a new stake in shares of LGI Homes during the second quarter valued at about $673,000. Riggs Asset Managment Co. Inc. raised its stake in shares of LGI Homes by 9,723.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 39,294 shares of the company’s stock valued at $1,255,000 after buying an additional 38,894 shares in the last quarter. Redwood Investments LLC raised its stake in shares of LGI Homes by 20.6% in the second quarter. Redwood Investments LLC now owns 154,508 shares of the company’s stock valued at $4,935,000 after buying an additional 26,430 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of LGI Homes during the second quarter valued at about $1,177,000. Finally, Albion Financial Group UT raised its stake in shares of LGI Homes by 10.0% in the second quarter. Albion Financial Group UT now owns 21,181 shares of the company’s stock valued at $677,000 after buying an additional 1,929 shares in the last quarter. Institutional investors and hedge funds own 66.98% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc is a homebuilder. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

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