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

Shares of LGI Homes, Inc. (NASDAQ:LGIH) have been assigned a consensus rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $74.6250.

Several research firms have commented on LGIH. Citigroup reiterated an “outperform” rating on shares of LGI Homes in a report on Wednesday, January 7th. Citizens Jmp raised their target price on shares of LGI Homes from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of LGI Homes in a report on Monday, December 29th.

LGI Homes Stock Performance

LGIH opened at $43.56 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 20.98 and a debt-to-equity ratio of 0.79. LGI Homes has a 12-month low of $33.55 and a 12-month high of $69.50. The business has a 50 day moving average of $45.27 and a 200-day moving average of $47.16. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 13.92 and a beta of 1.86.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, February 17th. The financial services provider reported $0.97 earnings per share for the quarter, topping 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 business had revenue of $473.97 million for the quarter, compared to analyst estimates of $479.60 million. During the same period in the previous year, the firm earned $2.15 EPS. The firm’s revenue was down 15.0% compared to the same quarter last year. On average, equities research analysts expect that LGI Homes will post 8.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Michael Larry Snider sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $42.04, for a total transaction of $252,240.00. Following the completion of the sale, the chief operating officer owned 175,556 shares in the company, valued at $7,380,374.24. The trade was a 3.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Charles Michael Merdian sold 7,211 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were 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. The trade was a 25.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,451 shares of company stock worth $943,840 over the last three months. Insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of LGI Homes by 75.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock worth $28,000 after buying an additional 237 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of LGI Homes in the fourth quarter valued at about $29,000. Russell Investments Group Ltd. increased its position in LGI Homes by 106.6% during the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 305 shares during the period. Kemnay Advisory Services Inc. bought a new position in LGI Homes during the fourth quarter worth about $32,000. Finally, Rockefeller Capital Management L.P. raised its stake in LGI Homes by 1,759.6% in 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. 84.89% of the stock is owned by institutional investors and hedge funds.

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.