Brokerages Set LGI Homes Inc (LGIH) Target Price at $67.10

Shares of LGI Homes Inc (NASDAQ:LGIH) have received an average rating of “Buy” from the seven research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $68.13.

A number of research firms have weighed in on LGIH. Zacks Investment Research lowered LGI Homes from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub upgraded LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. ValuEngine lowered LGI Homes from a “hold” rating to a “sell” rating in a research note on Tuesday, January 22nd. JMP Securities reiterated a “buy” rating and issued a $68.00 target price on shares of LGI Homes in a research note on Wednesday, March 6th. Finally, Wells Fargo & Co increased their target price on LGI Homes from $58.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 27th.

Shares of LGIH opened at $67.08 on Friday. The firm has a market capitalization of $1.52 billion, a P/E ratio of 10.56, a P/E/G ratio of 0.92 and a beta of 0.61. LGI Homes has a 52-week low of $37.16 and a 52-week high of $81.88. The company has a quick ratio of 1.61, a current ratio of 15.92 and a debt-to-equity ratio of 1.00.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The company had revenue of $287.60 million during the quarter, compared to the consensus estimate of $288.06 million. LGI Homes had a return on equity of 26.36% and a net margin of 10.32%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 earnings per share. On average, sell-side analysts anticipate that LGI Homes will post 7.02 earnings per share for the current fiscal year.

In other LGI Homes news, insider Michael Larry Snider sold 13,170 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $68.11, for a total value of $897,008.70. Following the sale, the insider now owns 175,544 shares in the company, valued at $11,956,301.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Jack Anthony Lipar sold 5,200 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $57.20, for a total value of $297,440.00. Following the transaction, the vice president now owns 80,327 shares in the company, valued at approximately $4,594,704.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,611 shares of company stock worth $7,219,212. Insiders own 13.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in LGIH. Altshuler Shaham Ltd purchased a new position in shares of LGI Homes during the fourth quarter valued at $38,684,000. FMR LLC increased its stake in shares of LGI Homes by 40.3% during the fourth quarter. FMR LLC now owns 2,371,309 shares of the financial services provider’s stock valued at $107,231,000 after buying an additional 681,165 shares during the period. Royce & Associates LP purchased a new position in shares of LGI Homes during the fourth quarter valued at $11,002,000. Prescott Group Capital Management L.L.C. increased its stake in shares of LGI Homes by 1,235.8% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 240,442 shares of the financial services provider’s stock valued at $10,873,000 after buying an additional 222,442 shares during the period. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of LGI Homes during the fourth quarter valued at $9,605,000. Hedge funds and other institutional investors own 94.71% of the company’s stock.

About LGI Homes

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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