JMP Securities Reiterates Market Outperform Rating for LGI Homes (NASDAQ:LGIH)

JMP Securities reissued their market outperform rating on shares of LGI Homes (NASDAQ:LGIHFree Report) in a report published on Friday,Benzinga reports. They currently have a $160.00 target price on the financial services provider’s stock.

LGIH has been the topic of several other reports. Wedbush reissued a “neutral” rating and issued a $115.00 price objective (down from $125.00) on shares of LGI Homes in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on LGI Homes from $100.00 to $82.00 and set an “underweight” rating on the stock in a research report on Friday, December 13th.

Check Out Our Latest Stock Report on LGI Homes

LGI Homes Stock Performance

NASDAQ LGIH opened at $83.29 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. LGI Homes has a 1-year low of $82.94 and a 1-year high of $130.75. The firm has a market capitalization of $1.96 billion, a P/E ratio of 9.99 and a beta of 2.02. The business’s 50-day simple moving average is $100.09 and its 200-day simple moving average is $103.59.

LGI Homes (NASDAQ:LGIHGet Free Report) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company had revenue of $651.85 million during the quarter, compared to the consensus estimate of $645.27 million. During the same period in the previous year, the firm earned $2.84 earnings per share. LGI Homes’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts predict that LGI Homes will post 8.72 EPS for the current year.

Institutional Trading of LGI Homes

Several large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of LGI Homes in the third quarter worth about $43,000. KBC Group NV raised its position in shares of LGI Homes by 29.8% in the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 168 shares in the last quarter. CWM LLC boosted its stake 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 buying an additional 187 shares during the last quarter. Heritage Family Offices LLP acquired a new stake in shares of LGI Homes during the third quarter worth approximately $218,000. Finally, HighTower Advisors LLC bought a new stake in shares of LGI Homes in the third quarter worth $229,000. 84.89% 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 large institutions looking to acquire single-family rental properties.

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