LGI Homes (NASDAQ:LGIH) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of LGI Homes (NASDAQ:LGIH) in a research report released on Friday,Benzinga reports. JMP Securities currently has a $160.00 target price on the financial services provider’s stock.

A number of other research firms have also issued reports on LGIH. Wedbush reaffirmed a “neutral” rating and issued a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday. JPMorgan Chase & Co. reduced their price objective 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.

LGI Homes Stock Down 3.0 %

LGI Homes stock opened at $83.29 on Friday. LGI Homes has a fifty-two week low of $82.94 and a fifty-two week high of $130.75. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 9.99 and a beta of 2.02. The stock’s fifty day moving average is $100.09 and its two-hundred day moving average is $103.59. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The firm had revenue of $651.85 million for the quarter, compared to analysts’ expectations of $645.27 million. During the same period in the prior year, the company earned $2.84 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. Analysts predict that LGI Homes will post 8.72 EPS for the current fiscal year.

Institutional Trading of LGI Homes

Several hedge funds and other institutional investors have recently bought and sold shares of LGIH. Commonwealth Equity Services LLC boosted its holdings in shares of LGI Homes by 38.8% during the second quarter. Commonwealth Equity Services LLC now owns 2,702 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 755 shares during the last quarter. Arizona State Retirement System boosted its stake in LGI Homes by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 5,940 shares of the financial services provider’s stock worth $532,000 after buying an additional 112 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in LGI Homes by 3.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 18,649 shares of the financial services provider’s stock valued at $1,669,000 after buying an additional 707 shares during the period. Headlands Technologies LLC increased its stake in shares of LGI Homes by 133.4% during the 2nd quarter. Headlands Technologies LLC now owns 2,602 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 1,487 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of LGI Homes by 21.3% in the second quarter. American Century Companies Inc. now owns 29,358 shares of the financial services provider’s stock worth $2,627,000 after acquiring an additional 5,159 shares during the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.

About LGI Homes

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.