LGI Homes (NASDAQ:LGIH) Given “Underperform” Rating at Wedbush

Wedbush reiterated their underperform rating on shares of LGI Homes (NASDAQ:LGIHFree Report) in a report released on Tuesday morning, MarketBeat.com reports. The brokerage currently has a $74.00 target price on the financial services provider’s stock, down from their previous target price of $88.00.

A number of other equities analysts also recently commented on the company. StockNews.com downgraded LGI Homes from a hold rating to a sell rating in a report on Tuesday, March 26th. JMP Securities restated a market outperform rating and set a $160.00 target price on shares of LGI Homes in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, LGI Homes has an average rating of Hold and an average target price of $110.50.

Check Out Our Latest Stock Report on LGI Homes

LGI Homes Stock Performance

NASDAQ:LGIH opened at $105.36 on Tuesday. The firm has a market cap of $2.48 billion, a PE ratio of 12.51 and a beta of 1.83. LGI Homes has a fifty-two week low of $84.15 and a fifty-two week high of $141.91. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.42 and a current ratio of 10.66. The business has a 50 day moving average price of $115.75 and a 200-day moving average price of $114.10.

LGI Homes (NASDAQ:LGIHGet Free Report) last released its quarterly earnings data on Tuesday, February 20th. The financial services provider reported $2.19 earnings per share 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 analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the company posted $1.45 EPS. Equities research analysts predict that LGI Homes will post 9.29 earnings per share for the current year.

Insiders Place Their Bets

In other LGI Homes news, General Counsel Scott James Garber sold 1,212 shares of the stock in a transaction on Monday, March 11th. The stock was 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 owns 13,824 shares in the company, valued at $1,547,596.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, General Counsel Scott James Garber sold 1,212 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $111.95, for a total transaction of $135,683.40. Following the completion of the transaction, the general counsel now directly owns 13,824 shares in the company, valued at $1,547,596.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Charles Michael Merdian sold 6,361 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $111.95, for a total value 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,435 shares of company stock worth $2,944,291. 12.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LGI Homes

Several institutional investors and hedge funds have recently modified their holdings of LGIH. Dark Forest Capital Management LP purchased a new stake in shares of LGI Homes during the first quarter valued at $27,000. GAMMA Investing LLC purchased a new stake in shares of LGI Homes during the fourth quarter valued at $38,000. First Horizon Advisors Inc. boosted its position in shares of LGI Homes by 35.8% during the fourth quarter. First Horizon Advisors Inc. now owns 353 shares of the financial services provider’s stock valued at $47,000 after buying an additional 93 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of LGI Homes during the third quarter valued at $42,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of LGI Homes during the third quarter valued at $49,000. 84.89% of the stock is currently owned by institutional investors.

About LGI Homes

(Get Free Report)

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.

See Also

Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

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