LGI Homes (NASDAQ:LGIH) Stock Rating Lowered by StockNews.com

LGI Homes (NASDAQ:LGIH) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Several other analysts have also issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $160.00 target price on shares of LGI Homes in a report on Friday, April 5th. Wedbush reiterated an “underperform” rating and set a $74.00 target price (down previously from $88.00) on shares of LGI Homes in a report on Tuesday, April 2nd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $110.50.

LGI Homes Stock Down 2.6 %

Shares of LGI Homes stock traded down $2.51 during trading on Wednesday, reaching $92.62. The stock had a trading volume of 328,935 shares, compared to its average volume of 195,271. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 11.00 and a beta of 1.83. The stock has a fifty day moving average price of $111.50 and a two-hundred day moving average price of $113.67. LGI Homes has a 52 week low of $84.15 and a 52 week high of $141.91. The company has a current ratio of 10.66, a quick ratio of 0.42 and a debt-to-equity ratio of 0.67.

LGI Homes (NASDAQ:LGIH) last issued its quarterly 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 firm had revenue of $608.41 million during the quarter, compared to the consensus estimate of $663.95 million. LGI Homes had a net margin of 8.45% and a return on equity of 11.28%. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.45 earnings per share. Sell-side analysts predict that LGI Homes will post 9.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other LGI Homes news, CFO Charles Michael Merdian sold 6,361 shares of the business’s 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 $712,113.95. Following the transaction, the chief financial officer now owns 9,458 shares of the company’s stock, valued at $1,058,823.10. The sale was disclosed in a document filed with the SEC, which is available through this link. In other LGI Homes news, CFO Charles Michael Merdian sold 6,361 shares of the business’s 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 $712,113.95. Following the transaction, the chief financial officer now owns 9,458 shares of the company’s stock, valued at $1,058,823.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Scott James Garber sold 1,212 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $135,683.40. Following the completion of the transaction, the general counsel now directly owns 13,824 shares in the company, valued at approximately $1,547,596.80. The disclosure for this sale can be found here. Insiders have sold a total of 26,435 shares of company stock valued at $2,944,291 over the last 90 days. 12.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LGI Homes

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mather Group LLC. acquired a new position in shares of LGI Homes in the first quarter valued at approximately $47,000. Cim LLC acquired a new stake in LGI Homes during the fourth quarter worth approximately $488,000. Polen Capital Management LLC acquired a new stake in LGI Homes during the fourth quarter worth approximately $3,360,000. Price T Rowe Associates Inc. MD grew its position in LGI Homes by 6.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,832 shares of the financial services provider’s stock worth $1,709,000 after buying an additional 755 shares in the last quarter. Finally, NFJ Investment Group LLC acquired a new stake in LGI Homes during the fourth quarter worth approximately $1,986,000. Institutional investors and hedge funds own 84.89% of the company’s stock.

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.