Wedbush Reiterates “Neutral” Rating for LGI Homes (NASDAQ:LGIH)

LGI Homes (NASDAQ:LGIHGet Free Report)‘s stock had its “neutral” rating restated by equities research analysts at Wedbush in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $97.00 price target on the financial services provider’s stock. Wedbush’s price objective points to a potential downside of 16.72% from the stock’s previous close.

LGIH has been the topic of several other research reports. Seaport Res Ptn downgraded LGI Homes from a “buy” rating to a “neutral” rating in a research note on Monday, November 20th. TheStreet downgraded LGI Homes from a “b-” rating to a “c+” rating in a research note on Thursday, October 19th. JMP Securities restated a “market outperform” rating and issued a $160.00 price target on shares of LGI Homes in a research note on Tuesday, December 19th. Finally, StockNews.com downgraded LGI Homes from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, LGI Homes has a consensus rating of “Hold” and an average price target of $116.25.

Check Out Our Latest Research Report on LGIH

LGI Homes Stock Up 0.6 %

LGIH stock opened at $116.47 on Tuesday. LGI Homes has a fifty-two week low of $84.15 and a fifty-two week high of $141.91. The business’s 50 day moving average price is $124.26 and its two-hundred day moving average price is $117.24. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.37 and a current ratio of 9.31. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 15.17 and a beta of 1.86.

Insider Activity

In other news, Director Steven Randal Smith sold 1,490 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $132.14, for a total transaction of $196,888.60. Following the transaction, the director now directly owns 1,221 shares of the company’s stock, valued at approximately $161,342.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On LGI Homes

A number of institutional investors have recently bought and sold shares of LGIH. Goldman Sachs Group Inc. raised its holdings in LGI Homes by 51.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 563,123 shares of the financial services provider’s stock worth $75,960,000 after purchasing an additional 190,075 shares during the period. Bank of America Corp DE increased its stake in LGI Homes by 173.6% in the 1st quarter. Bank of America Corp DE now owns 167,427 shares of the financial services provider’s stock worth $19,092,000 after buying an additional 106,232 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in LGI Homes by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,354,508 shares of the financial services provider’s stock worth $182,706,000 after buying an additional 99,885 shares in the last quarter. Barclays PLC increased its stake in LGI Homes by 213.0% in the 3rd quarter. Barclays PLC now owns 125,904 shares of the financial services provider’s stock worth $12,525,000 after buying an additional 85,682 shares in the last quarter. Finally, Liontrust Investment Partners LLP increased its stake in LGI Homes by 61.4% in the 3rd quarter. Liontrust Investment Partners LLP now owns 218,912 shares of the financial services provider’s stock worth $21,780,000 after buying an additional 83,237 shares in the last quarter. 89.43% of the stock is owned by institutional investors.

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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Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

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