LGI Homes (NASDAQ:LGIH) Lowered to “Hold” at BidaskClub

LGI Homes (NASDAQ:LGIH) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, June 26th, BidAskClub reports.

Other analysts have also recently issued research reports about the company. Wells Fargo & Co raised their price target on Wingstop from $76.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, May 6th. ValuEngine cut Yara International ASA from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. JMP Securities set a $79.00 price objective on LGI Homes and gave the company a “buy” rating in a report on Tuesday, April 9th. Finally, Zacks Investment Research cut GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $71.10.

NASDAQ:LGIH traded down $0.05 during trading on Wednesday, reaching $71.85. The company’s stock had a trading volume of 206,718 shares, compared to its average volume of 296,083. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 1.01 and a beta of 0.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.35 and a current ratio of 16.86. The company has a 50 day simple moving average of $71.81. LGI Homes has a 12 month low of $37.16 and a 12 month high of $76.93.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.13). LGI Homes had a return on equity of 23.28% and a net margin of 9.67%. The firm had revenue of $287.60 million for the quarter, compared to the consensus estimate of $288.06 million. During the same quarter in the previous year, the company posted $1.10 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. Equities analysts forecast that LGI Homes will post 6.69 earnings per share for the current year.

In other news, Director Steven Randal Smith sold 2,500 shares of LGI Homes stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $74.49, for a total value of $186,225.00. Following the sale, the director now directly owns 12,407 shares in the company, valued at approximately $924,197.43. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric Thomas Lipar sold 10,000 shares of LGI Homes stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $70.91, for a total value of $709,100.00. Following the completion of the sale, the chief executive officer now owns 544,509 shares in the company, valued at $38,611,133.19. The disclosure for this sale can be found here. 13.40% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LGIH. FMR LLC raised its stake in shares of LGI Homes by 40.3% in the fourth quarter. FMR LLC now owns 2,371,309 shares of the financial services provider’s stock worth $107,231,000 after purchasing an additional 681,165 shares during the last quarter. Epoch Investment Partners Inc. increased its position in shares of LGI Homes by 12.6% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,664,836 shares of the financial services provider’s stock worth $75,283,000 after acquiring an additional 186,150 shares during the period. Altshuler Shaham Ltd acquired a new position in shares of LGI Homes during the fourth quarter worth $38,684,000. Royce & Associates LP grew its stake in shares of LGI Homes by 21.3% during the first quarter. Royce & Associates LP now owns 295,020 shares of the financial services provider’s stock worth $17,772,000 after purchasing an additional 51,728 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in shares of LGI Homes by 39.4% during the fourth quarter. Lord Abbett & CO. LLC now owns 265,962 shares of the financial services provider’s stock worth $12,027,000 after purchasing an additional 75,104 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.

LGI Homes Company Profile

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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