LGI Homes (NASDAQ:LGIH) Upgraded to “Neutral” at BTIG Research

LGI Homes (NASDAQ:LGIH – Get Rating) was upgraded by stock analysts at BTIG Research from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

LGIH has been the subject of several other research reports. TheStreet lowered shares of LGI Homes from a “b-” rating to a “c+” rating in a report on Thursday, April 7th. Zacks Investment Research lowered shares of LGI Homes from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of LGI Homes from $96.00 to $81.00 and set an “underweight” rating for the company in a report on Wednesday, April 13th. Finally, StockNews.com started coverage on shares of LGI Homes in a report on Thursday, March 31st. They issued a “sell” rating for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $134.50.

NASDAQ LGIH opened at $93.48 on Wednesday. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 5.42 and a beta of 1.55. The company has a 50 day moving average of $112.42 and a 200-day moving average of $131.30. The company has a current ratio of 14.86, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. LGI Homes has a 1-year low of $88.13 and a 1-year high of $188.00.

LGI Homes (NASDAQ:LGIH – Get Rating) last posted its quarterly earnings data on Tuesday, February 15th. The financial services provider reported $4.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.62 by ($0.09). The firm had revenue of $801.08 million for the quarter, compared to analyst estimates of $758.07 million. LGI Homes had a return on equity of 32.82% and a net margin of 14.09%. The business’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $5.18 EPS. On average, analysts forecast that LGI Homes will post 17.19 earnings per share for the current year.

In other LGI Homes news, CEO Eric Thomas Lipar sold 32,860 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $118.99, for a total value of $3,910,011.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Michael Larry Snider sold 16,729 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $118.99, for a total transaction of $1,990,583.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,472 shares of company stock worth $6,362,633. Insiders own 12.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of LGI Homes by 9.8% during the third quarter. BlackRock Inc. now owns 3,924,673 shares of the financial services provider’s stock worth $556,950,000 after purchasing an additional 350,389 shares in the last quarter. Capital International Investors boosted its position in shares of LGI Homes by 4.1% during the fourth quarter. Capital International Investors now owns 1,032,607 shares of the financial services provider’s stock worth $159,517,000 after purchasing an additional 41,024 shares in the last quarter. State Street Corp boosted its position in shares of LGI Homes by 6.4% during the fourth quarter. State Street Corp now owns 874,111 shares of the financial services provider’s stock worth $135,033,000 after purchasing an additional 52,534 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of LGI Homes by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 541,697 shares of the financial services provider’s stock worth $83,676,000 after purchasing an additional 8,213 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its position in shares of LGI Homes by 64.2% during the fourth quarter. Disciplined Growth Investors Inc. MN now owns 455,061 shares of the financial services provider’s stock worth $70,298,000 after purchasing an additional 177,924 shares in the last quarter. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

About LGI Homes (Get Rating)

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 companies looking to acquire single-family rental properties.

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