Analysts Set LGI Homes, Inc. (NASDAQ:LGIH) PT at $74.63

Shares of LGI Homes, Inc. (NASDAQ:LGIH) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $74.6250.

A number of analysts recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a research report on Monday, December 29th. Citizens Jmp upped their target price on shares of LGI Homes from $85.00 to $95.00 and gave the company a “market outperform” rating in a report on Wednesday, January 7th. Finally, Citigroup reiterated an “outperform” rating on shares of LGI Homes in a report on Wednesday, January 7th.

LGI Homes Trading Up 6.0%

Shares of LGIH opened at $36.31 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 20.98 and a quick ratio of 0.76. LGI Homes has a 1-year low of $33.55 and a 1-year high of $72.86. The stock has a market cap of $839.85 million, a price-to-earnings ratio of 11.60 and a beta of 1.88. The firm has a 50 day simple moving average of $50.65 and a 200-day simple moving average of $49.56.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, February 17th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. LGI Homes had a return on equity of 4.08% and a net margin of 4.25%.The firm had revenue of $473.97 million for the quarter, compared to analysts’ expectations of $479.60 million. During the same quarter in the prior year, the firm earned $2.15 EPS. LGI Homes’s quarterly revenue was down 15.0% on a year-over-year basis. Equities analysts forecast that LGI Homes will post 8.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Michael Larry Snider sold 7,887 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $42.04, for a total transaction of $331,569.48. Following the completion of the sale, the chief operating officer directly owned 30,517 shares in the company, valued at $1,282,934.68. This represents a 20.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Charles Michael Merdian sold 7,211 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $42.04, for a total value of $303,150.44. Following the completion of the transaction, the chief financial officer directly owned 20,540 shares in the company, valued at $863,501.60. This trade represents a 25.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,451 shares of company stock valued at $943,840 over the last quarter. Company insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On LGI Homes

A number of institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of LGI Homes by 75.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 237 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of LGI Homes during the 4th quarter worth about $29,000. Russell Investments Group Ltd. grew its holdings in shares of LGI Homes by 106.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 305 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in LGI Homes during the 4th quarter worth approximately $32,000. Finally, Rockefeller Capital Management L.P. increased its position in LGI Homes by 1,759.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 827 shares in the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.