LGI Homes, Inc. (NASDAQ:LGIH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Saturday.

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. “

LGIH has been the subject of several other research reports. ValuEngine downgraded shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Deutsche Bank AG upped their price target on shares of LGI Homes from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company upgraded shares of LGI Homes from an “underperform” rating to a “market perform” rating and set a $33.00 price target for the company in a research report on Tuesday, May 16th. BidaskClub upgraded shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Finally, J P Morgan Chase & Co downgraded shares of LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price objective for the company. in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $44.20.

LGI Homes (NASDAQ:LGIH) traded up 1.24% on Friday, reaching $45.86. The company had a trading volume of 437,253 shares. The firm has a market capitalization of $991.26 million, a P/E ratio of 12.18 and a beta of 0.07. LGI Homes has a 1-year low of $26.82 and a 1-year high of $49.95. The company’s 50-day moving average price is $43.01 and its 200 day moving average price is $34.69.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.12. LGI Homes had a net margin of 9.22% and a return on equity of 23.65%. The firm had revenue of $324.20 million during the quarter, compared to the consensus estimate of $317.63 million. During the same quarter in the prior year, the firm earned $0.96 EPS. The company’s revenue for the quarter was up 45.6% on a year-over-year basis. On average, equities analysts forecast that LGI Homes will post $4.20 EPS for the current year.

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In other LGI Homes news, CEO Eric Thomas Lipar sold 10,000 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $42.59, for a total value of $425,900.00. Following the completion of the sale, the chief executive officer now owns 524,175 shares in the company, valued at approximately $22,324,613.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 13.60% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in LGIH. LS Investment Advisors LLC increased its stake in LGI Homes by 414.6% in the first quarter. LS Investment Advisors LLC now owns 3,103 shares of the financial services provider’s stock worth $105,000 after buying an additional 2,500 shares during the last quarter. Victory Capital Management Inc. increased its stake in LGI Homes by 85.3% in the first quarter. Victory Capital Management Inc. now owns 3,090 shares of the financial services provider’s stock worth $105,000 after buying an additional 1,422 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in LGI Homes by 14.2% in the first quarter. BNP Paribas Arbitrage SA now owns 3,238 shares of the financial services provider’s stock worth $110,000 after buying an additional 402 shares during the last quarter. Mason Street Advisors LLC increased its stake in LGI Homes by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,981 shares of the financial services provider’s stock worth $135,000 after buying an additional 260 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in LGI Homes by 82.4% in the second quarter. State of Alaska Department of Revenue now owns 3,393 shares of the financial services provider’s stock worth $136,000 after buying an additional 1,533 shares during the last quarter. Institutional investors own 87.66% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc is a homebuilder and land developer. 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 operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

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Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

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