LGI Homes, Inc. (NASDAQ:LGIH) Receives Average Rating of “Hold” from Analysts

Shares of LGI Homes, Inc. (NASDAQ:LGIH) have received an average rating of “Hold” from the five brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $74.6250.

A number of brokerages have recently issued reports on LGIH. Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a report on Wednesday, January 7th. Citizens Jmp raised their price objective on LGI Homes from $85.00 to $95.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a research note on Monday, December 29th.

LGI Homes Trading Down 7.7%

NASDAQ:LGIH opened at $34.22 on Friday. The company has a market cap of $791.39 million, a P/E ratio of 10.93 and a beta of 1.88. LGI Homes has a twelve month low of $33.55 and a twelve month high of $72.86. The business has a 50 day moving average price of $50.97 and a two-hundred day moving average price of $49.93. 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 (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, February 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The company had revenue of $473.97 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $2.15 EPS. As a group, analysts expect that LGI Homes will post 8.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other LGI Homes news, General Counsel Scott James Garber sold 1,353 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 value of $56,880.12. Following the transaction, the general counsel directly owned 21,716 shares of the company’s stock, valued at $912,940.64. This represents a 5.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction, the chief financial officer owned 20,540 shares in the company, 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 ninety days. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of LGI Homes

A number of institutional investors have recently modified their holdings of LGIH. Caitong International Asset Management Co. Ltd grew its holdings in shares of LGI Homes by 75.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 237 shares during the last quarter. Versant Capital Management Inc lifted its stake in LGI Homes by 35.1% in the 3rd quarter. Versant Capital Management Inc now owns 947 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 246 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in LGI Homes by 4.8% in the second quarter. PNC Financial Services Group Inc. now owns 5,976 shares of the financial services provider’s stock valued at $308,000 after buying an additional 275 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in LGI Homes by 2.6% in the third quarter. Illinois Municipal Retirement Fund now owns 10,970 shares of the financial services provider’s stock valued at $567,000 after buying an additional 275 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of 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 buying an additional 305 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors.

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.