Wedbush Comments on LGI Homes, Inc.’s Q4 2017 Earnings (LGIH)
LGI Homes, Inc. (NASDAQ:LGIH) – Investment analysts at Wedbush increased their Q4 2017 earnings per share estimates for LGI Homes in a report released on Thursday. Wedbush analyst J. Mccanless now expects that the financial services provider will earn $1.54 per share for the quarter, up from their previous estimate of $1.38. Wedbush currently has a “Neutral” rating and a $49.00 target price on the stock. Wedbush also issued estimates for LGI Homes’ FY2018 earnings at $6.44 EPS.
Other research analysts have also recently issued research reports about the company. Deutsche Bank AG lifted their target price on LGI Homes from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. ValuEngine cut LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. BidaskClub cut LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research cut LGI Homes from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, J P Morgan Chase & Co cut LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 target price on the stock. in a research report on Wednesday, August 9th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. LGI Homes has a consensus rating of “Buy” and an average price target of $47.00.
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Shares of LGI Homes (NASDAQ LGIH) opened at 52.25 on Friday. The company has a market cap of $1.13 billion, a PE ratio of 13.87 and a beta of 0.12. LGI Homes has a 52 week low of $26.82 and a 52 week high of $54.84. The stock’s 50 day moving average price is $45.44 and its 200-day moving average price is $38.86.
LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.12. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. The company had revenue of $324.20 million for the quarter, compared to analysts’ expectations of $317.63 million. During the same quarter in the prior year, the business posted $0.96 EPS. The business’s revenue was up 45.6% compared to the same quarter last year.
In related news, Director Bryan Christopher Sansbury sold 25,000 shares of LGI Homes stock in a transaction on Monday, August 14th. The stock was sold at an average price of $46.30, for a total transaction of $1,157,500.00. Following the sale, the director now directly owns 159,551 shares in the company, valued at $7,387,211.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Larry Snider sold 3,500 shares of LGI Homes stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $45.81, for a total value of $160,335.00. Following the sale, the insider now owns 191,948 shares in the company, valued at $8,793,137.88. The disclosure for this sale can be found here. Insiders have sold 38,500 shares of company stock worth $1,743,735 over the last quarter. 13.60% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in LGI Homes by 85.3% during the first quarter. Victory Capital Management Inc. now owns 3,090 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 1,422 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of 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 valued at $110,000 after buying an additional 402 shares during the period. Mason Street Advisors LLC raised its stake in shares of 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 valued at $135,000 after buying an additional 260 shares during the period. State of Alaska Department of Revenue raised its stake in shares of 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 valued at $136,000 after buying an additional 1,533 shares during the period. Finally, Invictus RG bought a new stake in shares of LGI Homes in the first quarter valued at $193,000. Institutional investors and hedge funds own 93.37% of the company’s stock.
About LGI Homes
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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