LGI Homes, Inc. (NASDAQ:LGIH) Given Consensus Recommendation of “Hold” by Brokerages

LGI Homes, Inc. (NASDAQ:LGIH) has been assigned an average rating of “Hold” from the four ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $118.33.

LGIH has been the subject of several research reports. JPMorgan Chase & Co. lowered their target price on LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. JMP Securities reiterated a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a research report on Friday, January 10th. Wedbush restated a “neutral” rating and set a $115.00 target price (down from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. Finally, Seaport Res Ptn upgraded shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 27th.

LGI Homes Stock Performance

LGIH stock opened at $83.01 on Thursday. The company has a 50 day moving average price of $91.48 and a 200 day moving average price of $102.53. LGI Homes has a fifty-two week low of $81.71 and a fifty-two week high of $130.75. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The stock has a market capitalization of $1.95 billion, a PE ratio of 9.95 and a beta of 2.03.

Institutional Investors Weigh In On LGI Homes

A number of institutional investors have recently made changes to their positions in the stock. CWM LLC grew its position in shares of 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 buying an additional 187 shares during the period. Creative Planning bought a new position in LGI Homes during the 3rd quarter worth approximately $375,000. Heritage Family Offices LLP bought a new position in LGI Homes during the 3rd quarter worth approximately $218,000. Trust Point Inc. grew its holdings in LGI Homes by 17.6% during the third quarter. Trust Point Inc. now owns 5,833 shares of the financial services provider’s stock valued at $691,000 after purchasing an additional 871 shares during the period. Finally, Raymond James & Associates increased its stake in LGI Homes by 18.0% in the third quarter. Raymond James & Associates now owns 114,880 shares of the financial services provider’s stock valued at $13,616,000 after purchasing an additional 17,535 shares in the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.

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.