LGI Homes (NASDAQ:LGIH) Given Neutral Rating at Wedbush

Wedbush restated their neutral rating on shares of LGI Homes (NASDAQ:LGIH) in a research report released on Tuesday morning,RTT News reports. The brokerage currently has a $115.00 target price on the financial services provider’s stock, down from their prior target price of $125.00.

Separately, JPMorgan Chase & Co. reduced their price objective on LGI Homes from $100.00 to $82.00 and set an “underweight” rating for the company in a research report on Friday, December 13th.

LGI Homes Price Performance

Shares of LGIH opened at $84.65 on Tuesday. The business’s 50-day moving average is $100.72 and its 200-day moving average is $103.84. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 10.15 and a beta of 2.02. LGI Homes has a fifty-two week low of $84.00 and a fifty-two week high of $130.75.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.41. The firm had revenue of $651.85 million for the quarter, compared to analyst estimates of $645.27 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.84 EPS. Equities research analysts expect that LGI Homes will post 8.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in LGI Homes in the third quarter worth $43,000. KBC Group NV boosted its stake in shares of LGI Homes by 29.8% during the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 168 shares in the last quarter. CWM LLC increased its holdings in shares of LGI Homes by 27.5% during the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 187 shares during the last quarter. Heritage Family Offices LLP bought a new position in shares of LGI Homes in the 3rd quarter valued at approximately $218,000. Finally, HighTower Advisors LLC acquired a new stake in LGI Homes in the 3rd quarter worth approximately $229,000. Institutional investors and hedge funds own 84.89% of the company’s stock.

About LGI Homes

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.