LGI Homes, Inc. (NASDAQ:LGIH) Receives $93.00 Average Price Target from Analysts

Posted by on May 30th, 2023

LGI Homes, Inc. (NASDAQ:LGIH – Get Rating) has received an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $93.00.

A number of research analysts recently weighed in on LGIH shares. Wedbush cut their price objective on LGI Homes from $91.00 to $89.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 12th. StockNews.com started coverage on LGI Homes in a report on Thursday, May 18th. They issued a “sell” rating for the company. JMP Securities reduced their target price on LGI Homes from $140.00 to $130.00 and set a “market perform” rating for the company in a report on Tuesday, February 28th. BTIG Research boosted their target price on LGI Homes from $73.00 to $77.00 in a report on Wednesday, May 3rd. Finally, JPMorgan Chase & Co. reduced their target price on LGI Homes from $84.00 to $79.00 and set an “underweight” rating for the company in a report on Thursday, February 23rd.

LGI Homes Stock Up 0.1 %

LGIH opened at $115.79 on Tuesday. LGI Homes has a fifty-two week low of $71.73 and a fifty-two week high of $126.37. The business has a 50-day moving average of $114.38 and a 200-day moving average of $107.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 7.82 and a quick ratio of 0.25. The company has a market capitalization of $2.72 billion, a PE ratio of 9.95 and a beta of 1.69.

LGI Homes (NASDAQ:LGIH – Get Rating) last posted its quarterly earnings results on Tuesday, May 2nd. The financial services provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). LGI Homes had a return on equity of 17.08% and a net margin of 12.24%. The firm had revenue of $487.40 million for the quarter, compared to analysts’ expectations of $467.54 million. During the same period last year, the business earned $3.25 earnings per share. The firm’s revenue for the quarter was down 10.7% on a year-over-year basis. Equities research analysts forecast that LGI Homes will post 7.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. MetLife Investment Management LLC lifted its holdings in shares of LGI Homes by 8.5% during the third quarter. MetLife Investment Management LLC now owns 11,441 shares of the financial services provider’s stock worth $931,000 after buying an additional 898 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of LGI Homes during the third quarter worth approximately $92,000. Barclays PLC lifted its holdings in shares of LGI Homes by 16.6% during the third quarter. Barclays PLC now owns 31,877 shares of the financial services provider’s stock worth $2,594,000 after buying an additional 4,545 shares during the last quarter. Liontrust Investment Partners LLP lifted its holdings in shares of LGI Homes by 105.8% during the third quarter. Liontrust Investment Partners LLP now owns 78,834 shares of the financial services provider’s stock worth $6,415,000 after buying an additional 40,534 shares during the last quarter. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of LGI Homes during the fourth quarter valued at approximately $66,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

About LGI Homes

(Get Rating)

LGI Homes, Inc engages in the design, construction, marketing, and sale of new homes. It focuses on the residential land development business. It operates through the following segments: Central, West, Southeast, Florida, Midwest, Mid-Atlantic, and Northwest. The company was founded by Eric Thomas Lipar in 2003 and is headquartered in The Woodlands, TX.

Featured Stories

Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

Receive News & Ratings for LGI Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGI Homes and related companies with MarketBeat.com's FREE daily email newsletter.