LGI Homes’ (LGIH) Underperform Rating Reaffirmed at Wedbush

Wedbush reiterated their underperform rating on shares of LGI Homes (NASDAQ:LGIHFree Report) in a research note published on Thursday morning, Benzinga reports. Wedbush currently has a $74.00 target price on the financial services provider’s stock.

Several other research analysts have also weighed in on LGIH. 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. StockNews.com lowered LGI Homes from a hold rating to a sell rating in a report on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $110.50.

Check Out Our Latest Report on LGIH

LGI Homes Stock Down 0.9 %

Shares of LGIH opened at $95.99 on Thursday. The business’s fifty day moving average price is $98.76 and its two-hundred day moving average price is $112.85. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.43 and a current ratio of 12.36. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 12.00 and a beta of 1.91. LGI Homes has a 52 week low of $84.15 and a 52 week high of $141.91.

LGI Homes (NASDAQ:LGIHGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.30). The company had revenue of $390.90 million during the quarter, compared to analyst estimates of $400.00 million. LGI Homes had a net margin of 8.37% and a return on equity of 10.43%. The business’s revenue for the quarter was down 19.8% compared to the same quarter last year. During the same period last year, the company earned $1.14 EPS. On average, analysts predict that LGI Homes will post 9.07 earnings per share for the current year.

Insider Activity

In other news, CFO Charles Michael Merdian sold 6,361 shares of the company’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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related 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 value of $712,113.95. Following the completion of the sale, the chief financial officer now directly owns 9,458 shares in the company, valued at $1,058,823.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Michael Larry Snider sold 7,993 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $110.06, for a total value of $879,709.58. Following the completion of the sale, the chief operating officer now owns 19,016 shares of the company’s stock, valued at $2,092,900.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,435 shares of company stock valued at $2,944,291. 12.40% of the stock is owned by insiders.

Institutional Investors Weigh In On LGI Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in LGIH. Wasatch Advisors LP lifted its stake in LGI Homes by 9.9% during the first quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider’s stock worth $169,929,000 after purchasing an additional 131,467 shares during the last quarter. Bright Financial Advisors Inc. bought a new stake in LGI Homes during the first quarter worth $12,260,000. CDAM UK Ltd lifted its stake in LGI Homes by 14.7% during the fourth quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock worth $89,878,000 after purchasing an additional 86,265 shares during the last quarter. Liontrust Investment Partners LLP lifted its stake in LGI Homes by 61.4% during the third quarter. Liontrust Investment Partners LLP now owns 218,912 shares of the financial services provider’s stock worth $21,780,000 after purchasing an additional 83,237 shares during the last quarter. Finally, Ampfield Management L.P. lifted its stake in LGI Homes by 13.0% during the fourth quarter. Ampfield Management L.P. now owns 571,857 shares of the financial services provider’s stock worth $76,148,000 after purchasing an additional 65,609 shares during the last quarter. 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.

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