Wells Fargo & Co Increases LGI Homes (NASDAQ:LGIH) Price Target to $95.00

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LGI Homes (NASDAQ:LGIH) had its target price raised by Wells Fargo & Co from $85.00 to $95.00 in a report released on Friday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on LGIH. JPMorgan Chase & Co. downgraded shares of LGI Homes from an overweight rating to a neutral rating and upped their target price for the stock from $77.00 to $84.50 in a research report on Wednesday, September 11th. JMP Securities upped their target price on shares of LGI Homes from $83.00 to $89.00 and gave the stock a market outperform rating in a research report on Friday, September 6th. Zacks Investment Research raised shares of LGI Homes from a hold rating to a buy rating and set a $83.00 target price on the stock in a research report on Wednesday, July 17th. ValuEngine downgraded shares of LGI Homes from a buy rating to a hold rating in a research report on Friday, July 19th. Finally, BidaskClub downgraded shares of LGI Homes from a strong-buy rating to a buy rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $78.08.

Shares of LGIH opened at $79.84 on Friday. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 12.57 and a beta of 0.51. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.34 and a current ratio of 15.20. LGI Homes has a fifty-two week low of $37.16 and a fifty-two week high of $85.41. The firm has a 50 day moving average price of $76.88 and a 200-day moving average price of $69.76.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.20. The company had revenue of $461.83 million during the quarter, compared to analyst estimates of $465.08 million. LGI Homes had a net margin of 9.31% and a return on equity of 21.68%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 EPS. As a group, equities research analysts predict that LGI Homes will post 6.73 earnings per share for the current year.

In related news, Director Bryan Christopher Sansbury sold 8,949 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.91, for a total transaction of $724,063.59. Following the sale, the director now directly owns 160,121 shares of the company’s stock, valued at approximately $12,955,390.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Thomas Lipar sold 25,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $80.28, for a total transaction of $2,007,000.00. Following the sale, the chief executive officer now directly owns 528,058 shares in the company, valued at $42,392,496.24. The disclosure for this sale can be found here. Corporate insiders own 13.40% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc. purchased a new stake in LGI Homes during the 2nd quarter valued at about $1,246,000. Campbell Newman Asset Management Inc. lifted its stake in LGI Homes by 7.0% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 8,582 shares of the financial services provider’s stock valued at $613,000 after acquiring an additional 565 shares during the period. Brookstone Capital Management lifted its stake in LGI Homes by 4.9% during the 2nd quarter. Brookstone Capital Management now owns 7,024 shares of the financial services provider’s stock valued at $502,000 after acquiring an additional 330 shares during the period. Xact Kapitalforvaltning AB bought a new position in LGI Homes during the 2nd quarter valued at about $233,000. Finally, Altshuler Shaham Ltd lifted its stake in LGI Homes by 2.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 882,787 shares of the financial services provider’s stock valued at $63,057,000 after acquiring an additional 17,288 shares during the period. 94.62% of the stock is currently owned by institutional investors.

About LGI Homes

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

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