LGI Homes, Inc. (NASDAQ:LGIH) Receives $93.75 Consensus PT from Brokerages

Posted by on Jul 22nd, 2023

LGI Homes, Inc. (NASDAQ:LGIH – Get Free Report) has been assigned a consensus recommendation of “Reduce” from the five analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $93.75.

A number of research firms recently commented on LGIH. Seaport Res Ptn reaffirmed a “buy” rating on shares of LGI Homes in a report on Wednesday, June 14th. Wedbush lowered their price target on shares of LGI Homes from $91.00 to $89.00 and set a “neutral” rating for the company in a research note on Wednesday, April 12th. StockNews.com started coverage on shares of LGI Homes in a research note on Thursday, May 18th. They set a “sell” rating for the company. Finally, BTIG Research boosted their price target on shares of LGI Homes from $73.00 to $77.00 in a research report on Wednesday, May 3rd.

LGI Homes Stock Performance

Shares of LGI Homes stock opened at $135.13 on Wednesday. The company has a current ratio of 7.82, a quick ratio of 0.25 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $127.31 and a two-hundred day moving average price of $116.19. LGI Homes has a 1-year low of $74.61 and a 1-year high of $141.91. The company has a market cap of $3.18 billion, a P/E ratio of 11.61 and a beta of 1.73.

LGI Homes (NASDAQ:LGIH – Get Free Report) last issued its earnings results on Tuesday, May 2nd. The financial services provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). LGI Homes had a net margin of 12.24% and a return on equity of 17.08%. The firm had revenue of $487.40 million during the quarter, compared to analyst estimates of $467.54 million. During the same quarter in the prior year, the business earned $3.25 earnings per share. The business’s quarterly revenue was down 10.7% on a year-over-year basis. As a group, analysts anticipate that LGI Homes will post 7.57 EPS for the current year.

Hedge Funds Weigh In On LGI Homes

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in shares of LGI Homes by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 211,227 shares of the financial services provider’s stock worth $20,633,000 after purchasing an additional 1,374 shares in the last quarter. US Bancorp DE lifted its position in shares of LGI Homes by 20.9% during the 1st quarter. US Bancorp DE now owns 1,181 shares of the financial services provider’s stock worth $114,000 after buying an additional 204 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of LGI Homes by 53.3% in the 1st quarter. MetLife Investment Management LLC now owns 11,653 shares of the financial services provider’s stock valued at $1,138,000 after acquiring an additional 4,050 shares during the period. Rhumbline Advisers increased its holdings in shares of LGI Homes by 5.8% in the 1st quarter. Rhumbline Advisers now owns 52,450 shares of the financial services provider’s stock valued at $5,123,000 after acquiring an additional 2,883 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of LGI Homes by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,415 shares of the financial services provider’s stock valued at $1,799,000 after acquiring an additional 2,271 shares during the period. 92.15% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Company Profile

(Get Free Report

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 institutions looking to acquire single-family rental properties.

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