LGI Homes (NASDAQ:LGIH) Stock Price Expected to Rise, Citizens Jmp Analyst Says

LGI Homes (NASDAQ:LGIH) had its target price hoisted by equities research analysts at Citizens Jmp from $85.00 to $95.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “market outperform” rating on the financial services provider’s stock. Citizens Jmp’s price objective suggests a potential upside of 103.12% from the company’s current price.

Several other equities analysts have also recently weighed in on LGIH. Capital One Financial set a $60.00 price objective on LGI Homes in a report on Thursday, October 9th. JPMorgan Chase & Co. lifted their price target on LGI Homes from $47.00 to $48.50 and gave the company an “underweight” rating in a research note on Tuesday, October 14th. Citigroup restated an “outperform” rating on shares of LGI Homes in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of LGI Homes in a research report on Monday, December 29th. Finally, Wedbush reaffirmed a “neutral” rating and set a $95.00 price target on shares of LGI Homes in a research note on Monday, October 6th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, LGI Homes presently has a consensus rating of “Hold” and an average price target of $76.70.

LGI Homes Stock Up 8.4%

NASDAQ:LGIH opened at $46.77 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 18.02 and a debt-to-equity ratio of 0.84. LGI Homes has a 12-month low of $39.70 and a 12-month high of $97.25. The stock’s fifty day simple moving average is $46.69 and its 200-day simple moving average is $52.16. The firm has a market capitalization of $1.08 billion, a P/E ratio of 10.32 and a beta of 1.88.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, November 4th. The financial services provider reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.09). LGI Homes had a net margin of 5.93% and a return on equity of 5.50%. The company had revenue of $396.63 million during the quarter, compared to analyst estimates of $421.66 million. Equities research analysts expect that LGI Homes will post 8.46 earnings per share for the current year.

Institutional Investors Weigh In On LGI Homes

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB lifted its stake in LGI Homes by 453.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 531 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 435 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of LGI Homes by 75.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 237 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of LGI Homes by 106.6% in the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 305 shares during the period. Signaturefd LLC lifted its stake in shares of LGI Homes by 284.4% during the 2nd quarter. Signaturefd LLC now owns 815 shares of the financial services provider’s stock worth $42,000 after buying an additional 603 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of LGI Homes by 35.1% during the 3rd quarter. Versant Capital Management Inc now owns 947 shares of the financial services provider’s stock worth $49,000 after buying an additional 246 shares during the period. Institutional investors own 84.89% of the company’s stock.

About LGI Homes

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.