LGI Homes (NASDAQ:LGIH) Upgraded at Zacks Research

Zacks Research upgraded shares of LGI Homes (NASDAQ:LGIH) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Several other research analysts have also recently issued reports on LGIH. Citizens Jmp raised their target price on LGI Homes from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 7th. Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, LGI Homes currently has a consensus rating of “Hold” and an average target price of $74.63.

LGI Homes Trading Down 3.0%

Shares of NASDAQ:LGIH opened at $45.25 on Tuesday. 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 $69.50. The company has a market cap of $1.05 billion, a P/E ratio of 14.46 and a beta of 1.86. The stock’s fifty day moving average price is $44.12 and its 200-day moving average price is $46.97.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, February 17th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The company had revenue of $473.97 million during the quarter, compared to the consensus estimate of $479.60 million. LGI Homes had a return on equity of 4.08% and a net margin of 4.25%.LGI Homes’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same period last year, the company earned $2.15 EPS. Sell-side analysts expect that LGI Homes will post 2.45 earnings per share for the current year.

Insider Transactions at LGI Homes

In related news, COO Michael Larry Snider sold 6,000 shares of LGI Homes stock in a transaction on Monday, March 9th. The shares were sold at an average price of $42.04, for a total transaction of $252,240.00. Following the transaction, the chief operating officer owned 175,556 shares in the company, valued at approximately $7,380,374.24. The trade was a 3.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 sale, the chief financial officer owned 20,540 shares of the company’s stock, valued at $863,501.60. The trade was a 25.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,451 shares of company stock valued at $943,840 over the last three months. Corporate insiders own 12.60% of the company’s stock.

Institutional Trading of LGI Homes

Several institutional investors have recently made changes to their positions in LGIH. Inspire Investing LLC lifted its holdings in LGI Homes by 21.8% in the 1st quarter. Inspire Investing LLC now owns 13,186 shares of the financial services provider’s stock worth $521,000 after purchasing an additional 2,356 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in LGI Homes during the 1st quarter valued at approximately $356,000. Rockefeller Capital Management L.P. raised its position in shares of LGI Homes by 1,759.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock valued at $38,000 after buying an additional 827 shares during the last quarter. River Road Asset Management LLC raised its position in shares of LGI Homes by 2.0% during the fourth quarter. River Road Asset Management LLC now owns 931,391 shares of the financial services provider’s stock valued at $40,013,000 after buying an additional 18,682 shares during the last quarter. Finally, Virtu Financial LLC raised its position in shares of LGI Homes by 18.8% during the fourth quarter. Virtu Financial LLC now owns 7,889 shares of the financial services provider’s stock valued at $339,000 after buying an additional 1,246 shares during 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.