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

LGI Homes (NASDAQ:LGIH)‘s stock had its “market outperform” rating restated by JMP Securities in a report released on Friday,Benzinga reports. They currently have a $160.00 target price on the financial services provider’s stock. JMP Securities’ price objective would indicate a potential upside of 91.55% from the company’s previous close.

Several other brokerages have also recently issued reports on LGIH. JPMorgan Chase & Co. lowered their price objective 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 reaffirmed a “neutral” rating and issued a $115.00 price objective (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday.

LGI Homes Price Performance

LGI Homes stock traded down $2.34 during trading hours on Friday, hitting $83.53. 23,117 shares of the company traded hands, compared to its average volume of 180,732. The firm has a market cap of $1.96 billion, a P/E ratio of 10.02 and a beta of 2.02. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77. The firm’s 50-day simple moving average is $100.09 and its two-hundred day simple moving average is $103.59. LGI Homes has a 1-year low of $82.94 and a 1-year high of $130.75.

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

Institutional Trading of LGI Homes

Several institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in LGI Homes during the third quarter valued at approximately $43,000. KBC Group NV raised its position in LGI Homes by 29.8% during the third 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 in the last quarter. CWM LLC raised its position in shares of LGI Homes by 27.5% in the third quarter. CWM LLC now owns 867 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 187 shares during the period. Heritage Family Offices LLP bought a new position in shares of LGI Homes in the third quarter valued at approximately $218,000. Finally, HighTower Advisors LLC bought a new position in shares of LGI Homes in the third quarter valued at approximately $229,000. 84.89% of the stock is currently owned by institutional investors and hedge funds.

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.