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

StockNews.com cut shares of LGI Homes (NASDAQ:LGIH) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

Other analysts have also issued reports about the stock. JMP Securities restated a market outperform rating and set a $160.00 target price on shares of LGI Homes in a research report on Friday, April 5th. Wedbush reiterated an underperform rating and issued a $74.00 price target (down from $88.00) on shares of LGI Homes in a research report on Tuesday, April 2nd. Three investment 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. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $110.50.

LGI Homes Stock Performance

Shares of NASDAQ LGIH opened at $92.62 on Wednesday. The firm has a 50 day moving average of $111.50 and a 200 day moving average of $113.67. The company has a current ratio of 10.66, a quick ratio of 0.42 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 11.00 and a beta of 1.83. LGI Homes has a 12-month low of $84.15 and a 12-month high of $141.91.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, February 20th. The financial services provider reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.54 by ($0.35). The business had revenue of $608.41 million for 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 quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.45 earnings per share. On average, research analysts anticipate that LGI Homes will post 9.24 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Michael Larry Snider sold 7,993 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $110.06, for a total transaction of $879,709.58. Following the completion of the transaction, the chief operating officer now owns 19,016 shares in the company, valued at $2,092,900.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Eric Thomas Lipar sold 10,869 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $1,216,784.55. Following the completion of the transaction, the chief executive officer now owns 627,430 shares in the company, valued at $70,240,788.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michael Larry Snider sold 7,993 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $110.06, for a total transaction of $879,709.58. Following the transaction, the chief operating officer now owns 19,016 shares of the company’s stock, valued at approximately $2,092,900.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,435 shares of company stock worth $2,944,291. 12.40% of the stock is owned by insiders.

Institutional Investors Weigh In On LGI Homes

Hedge funds have recently bought and sold shares of the business. Tributary Capital Management LLC raised its stake in LGI Homes by 24.5% during the fourth quarter. Tributary Capital Management LLC now owns 133,742 shares of the financial services provider’s stock valued at $17,809,000 after purchasing an additional 26,280 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in LGI Homes during the third quarter valued at $568,000. Rhumbline Advisers raised its stake in shares of LGI Homes by 0.7% in the third quarter. Rhumbline Advisers now owns 66,913 shares of the financial services provider’s stock valued at $6,657,000 after acquiring an additional 437 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of LGI Homes by 105.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,313 shares of the financial services provider’s stock valued at $1,325,000 after acquiring an additional 6,842 shares during the period. Finally, Tudor Investment Corp Et Al raised its stake in shares of LGI Homes by 154.8% in the third quarter. Tudor Investment Corp Et Al now owns 59,887 shares of the financial services provider’s stock valued at $5,958,000 after acquiring an additional 36,379 shares during the period. Hedge funds and other institutional investors 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.