Brokerages Set LGI Homes, Inc. (NASDAQ:LGIH) Price Target at $114.00

Shares of LGI Homes, Inc. (NASDAQ:LGIH) have been given a consensus recommendation of “Hold” by the five brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $114.00.

A number of equities analysts have recently weighed in on the stock. StockNews.com lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Tuesday. JMP Securities reiterated a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a research note on Tuesday, February 27th. Finally, Wedbush lowered their price target on LGI Homes from $97.00 to $88.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st.

LGI Homes Stock Performance

NASDAQ:LGIH opened at $116.37 on Monday. LGI Homes has a twelve month low of $84.15 and a twelve month high of $141.91. The company has a market capitalization of $2.74 billion, a P/E ratio of 13.82 and a beta of 1.83. The company has a current ratio of 10.66, a quick ratio of 0.42 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average price of $116.24 and a two-hundred day moving average price of $114.21.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, February 20th. The financial services provider reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.35). The company had revenue of $608.41 million for the quarter, compared to analyst estimates of $663.95 million. LGI Homes had a net margin of 8.45% and a return on equity of 11.28%. LGI Homes’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.45 EPS. As a group, research analysts expect that LGI Homes will post 9.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other LGI Homes news, CEO Eric Thomas Lipar sold 10,869 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $111.95, for a total transaction of $1,216,784.55. Following the transaction, the chief executive officer now owns 627,430 shares of the company’s stock, valued at approximately $70,240,788.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other LGI Homes news, CFO Charles Michael Merdian sold 6,361 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $712,113.95. Following the transaction, the chief financial officer now owns 9,458 shares of the company’s stock, valued at approximately $1,058,823.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eric Thomas Lipar sold 10,869 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $1,216,784.55. Following the completion of the transaction, the chief executive officer now owns 627,430 shares of the company’s stock, valued at $70,240,788.50. The disclosure for this sale can be found here. Insiders have sold 26,435 shares of company stock worth $2,944,291 in the last three months. 12.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in LGI Homes by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 211,227 shares of the financial services provider’s stock worth $20,633,000 after acquiring an additional 1,374 shares during the period. US Bancorp DE boosted its holdings in shares of LGI Homes by 20.9% during the first quarter. US Bancorp DE now owns 1,181 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 204 shares during the period. MetLife Investment Management LLC grew its position in LGI Homes by 53.3% during the first quarter. MetLife Investment Management LLC now owns 11,653 shares of the financial services provider’s stock valued at $1,138,000 after purchasing an additional 4,050 shares in the last quarter. Rhumbline Advisers lifted its position in LGI Homes by 5.8% in the 1st quarter. Rhumbline Advisers now owns 52,450 shares of the financial services provider’s stock worth $5,123,000 after buying an additional 2,883 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of LGI Homes by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,415 shares of the financial services provider’s stock valued at $1,799,000 after buying an additional 2,271 shares during the period. 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.