LGI Homes (NASDAQ:LGIH) Stock Rating Lowered by StockNews.com

LGI Homes (NASDAQ:LGIH) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

A number of other research firms 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. Wedbush reissued an “underperform” rating and issued a $74.00 price target (down from $88.00) on shares of LGI Homes in a research note on Tuesday, April 2nd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, LGI Homes currently has an average rating of “Hold” and an average target price of $110.50.

LGI Homes Trading Down 2.6 %

NASDAQ LGIH traded down $2.51 during trading on Wednesday, hitting $92.62. 328,935 shares of the company’s stock traded hands, compared to its average volume of 195,271. The stock has a fifty day moving average of $111.50 and a two-hundred day moving average of $113.67. The company has a debt-to-equity ratio of 0.67, a current ratio of 10.66 and a quick ratio of 0.42. LGI Homes has a 12-month low of $84.15 and a 12-month high of $141.91. The firm has a market cap of $2.18 billion, a P/E ratio of 11.00 and a beta of 1.83.

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

Insider Buying and Selling at LGI Homes

In other LGI Homes 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 transaction of $879,709.58. Following the completion of the transaction, 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 available through the SEC website. In other LGI Homes news, CEO Eric Thomas Lipar sold 10,869 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $1,216,784.55. Following the completion of the transaction, the chief executive officer now owns 627,430 shares of the company’s stock, valued at $70,240,788.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $879,709.58. Following the sale, the chief operating officer now directly owns 19,016 shares of the company’s stock, valued at approximately $2,092,900.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,435 shares of company stock valued at $2,944,291. Corporate insiders own 12.20% of the company’s stock.

Institutional Investors Weigh In On LGI Homes

Several institutional investors and hedge funds have recently made changes to their positions in LGIH. Goldman Sachs Group Inc. increased its position in shares of LGI Homes by 51.0% during the second quarter. Goldman Sachs Group Inc. now owns 563,123 shares of the financial services provider’s stock valued at $75,960,000 after acquiring an additional 190,075 shares in the last quarter. Bank of America Corp DE boosted its holdings in LGI Homes by 173.6% in the first quarter. Bank of America Corp DE now owns 167,427 shares of the financial services provider’s stock worth $19,092,000 after purchasing an additional 106,232 shares during the last quarter. CDAM UK Ltd boosted its holdings in LGI Homes by 14.7% in 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. Barclays PLC boosted its holdings in LGI Homes by 213.0% in the third quarter. Barclays PLC now owns 125,904 shares of the financial services provider’s stock worth $12,525,000 after purchasing an additional 85,682 shares during the last quarter. Finally, Liontrust Investment Partners LLP boosted its holdings in LGI Homes by 61.4% in 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. Institutional investors own 84.89% of the company’s stock.

LGI Homes Company Profile

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.