LGI Homes, Inc. (NASDAQ:LGIH) Given Average Rating of “Reduce” by Brokerages

LGI Homes, Inc. (NASDAQ:LGIH) has earned a consensus recommendation of “Reduce” from the five analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $110.50.

LGIH has been the topic of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and set a $160.00 price target on shares of LGI Homes in a research report on Friday, April 5th. StockNews.com cut shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Wedbush restated an “underperform” rating and issued a $74.00 target price (down previously from $88.00) on shares of LGI Homes in a report on Tuesday, April 2nd.

Insider Transactions at LGI Homes

In other news, COO Michael Larry Snider sold 7,993 shares of the firm’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 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 Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Michael Larry Snider sold 7,993 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles Michael Merdian sold 6,361 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $1,058,823.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,435 shares of company stock worth $2,944,291. Insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On LGI Homes

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tributary Capital Management LLC grew its stake in shares of LGI Homes by 24.5% during the 4th 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 during the period. Rhumbline Advisers grew its stake in shares of LGI Homes by 0.7% during the 3rd quarter. Rhumbline Advisers now owns 66,913 shares of the financial services provider’s stock valued at $6,657,000 after purchasing an additional 437 shares during the period. Dark Forest Capital Management LP bought a new stake in shares of LGI Homes during the 3rd quarter valued at about $568,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of LGI Homes by 105.7% during the 3rd 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 buying an additional 6,842 shares in the last quarter. Finally, Tudor Investment Corp Et Al lifted its position in shares of LGI Homes by 154.8% during the 3rd quarter. Tudor Investment Corp Et Al now owns 59,887 shares of the financial services provider’s stock valued at $5,958,000 after buying an additional 36,379 shares in the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Stock Up 0.9 %

LGIH stock opened at $93.43 on Friday. 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 company’s 50 day moving average is $110.99 and its 200 day moving average is $113.53. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 11.10 and a beta of 1.83. LGI Homes has a 1-year low of $84.15 and a 1-year high of $141.91.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, February 20th. The financial services provider reported $2.19 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.35). The company had revenue of $608.41 million during the quarter, compared to the consensus estimate of $663.95 million. LGI Homes had a return on equity of 11.28% and a net margin of 8.45%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter last year, the company posted $1.45 earnings per share. Sell-side analysts predict that LGI Homes will post 9.24 EPS for the current fiscal year.

About LGI Homes

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.