LGI Homes, Inc. (LGIH) Given Consensus Rating of “Buy” by Analysts
Shares of LGI Homes, Inc. (NASDAQ:LGIH) have received a consensus rating of “Buy” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $49.40.
LGIH has been the topic of several recent analyst reports. Zacks Investment Research upgraded LGI Homes from a “hold” rating to a “strong-buy” rating and set a $49.00 target price on the stock in a research report on Tuesday, July 18th. BidaskClub downgraded LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 25th. Wedbush upgraded LGI Homes from a “neutral” rating to an “outperform” rating and set a $49.00 target price on the stock in a research report on Thursday, August 31st. ValuEngine upgraded LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 30th. Finally, J P Morgan Chase & Co downgraded 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.
In other news, Director Bryan Christopher Sansbury sold 25,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $46.30, for a total value of $1,157,500.00. Following the completion of the sale, the director now owns 159,551 shares in the company, valued at $7,387,211.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Larry Snider sold 3,500 shares of the stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $45.81, for a total value of $160,335.00. Following the completion of the sale, the insider now owns 191,948 shares of the company’s stock, valued at approximately $8,793,137.88. The disclosure for this sale can be found here. Insiders have sold 53,500 shares of company stock valued at $2,674,585 over the last 90 days. 13.60% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of 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 valued at $105,000 after buying an additional 1,422 shares in the last quarter. State of Alaska Department of Revenue grew 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 in the last quarter. LS Investment Advisors LLC grew its stake in shares of LGI Homes by 37.3% in the third quarter. LS Investment Advisors LLC now owns 4,214 shares of the financial services provider’s stock valued at $205,000 after buying an additional 1,145 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of LGI Homes in the third quarter valued at about $238,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of LGI Homes by 56.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,069 shares of the financial services provider’s stock valued at $204,000 after buying an additional 1,831 shares in the last quarter. Institutional investors and hedge funds own 93.38% of the company’s stock.
LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.12. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. The firm had revenue of $324.20 million for the quarter, compared to the consensus estimate of $317.63 million. During the same period in the prior year, the business posted $0.96 earnings per share. The firm’s revenue for the quarter was up 45.6% compared to the same quarter last year.
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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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