LGI Homes’ (LGIH) “Market Outperform” Rating Reiterated at JMP Securities

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

Several other research analysts have also issued reports on LGIH. JPMorgan Chase & Co. cut their target price on shares of LGI Homes from $100.00 to $82.00 and set an “underweight” rating on the stock in a research note on Friday, December 13th. Wedbush reissued a “neutral” rating and set a $115.00 price objective (down previously from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th.

LGI Homes Stock Performance

Shares of LGI Homes stock opened at $83.29 on Friday. The business has a 50-day moving average price of $99.70 and a two-hundred day moving average price of $103.64. LGI Homes has a 1-year low of $82.94 and a 1-year high of $130.75. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. The company has a market cap of $1.96 billion, a P/E ratio of 9.99 and a beta of 2.02.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new stake in LGI Homes in the 3rd quarter worth about $43,000. KBC Group NV raised its holdings in LGI Homes by 29.8% during the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 168 shares during the period. CWM LLC lifted its holdings in LGI Homes by 27.5% during the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 187 shares in the last quarter. Heritage Family Offices LLP purchased a new stake in shares of LGI Homes in the third quarter worth about $218,000. Finally, HighTower Advisors LLC bought a new position in LGI Homes in the 3rd quarter valued at $229,000. 84.89% of the stock is owned by institutional investors.

LGI Homes Company Profile

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.