LGI Homes (NASDAQ:LGIH) Rating Lowered to Sell at Wall Street Zen

LGI Homes (NASDAQ:LGIH) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other analysts have also weighed in on the company. Zacks Research raised LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. upped their price target on shares of LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Finally, Weiss Ratings raised shares of LGI Homes from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $72.75.

LGI Homes Stock Performance

NASDAQ LGIH opened at $60.04 on Friday. LGI Homes has a 1-year low of $33.55 and a 1-year high of $69.50. The company has a current ratio of 17.74, a quick ratio of 0.61 and a debt-to-equity ratio of 0.74. The stock has a 50-day moving average of $57.34 and a 200-day moving average of $50.41. The firm has a market cap of $1.40 billion, a PE ratio of 21.07 and a beta of 1.83.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. LGI Homes had a return on equity of 3.55% and a net margin of 3.88%.The business had revenue of $516.05 million for the quarter, compared to analyst estimates of $489.23 million. During the same period last year, the company earned $1.36 EPS. LGI Homes’s revenue for the quarter was up 6.7% compared to the same quarter last year.

Institutional Trading of LGI Homes

A number of hedge funds have recently made changes to their positions in LGIH. Caitong International Asset Management Co. Ltd boosted its position in LGI Homes by 75.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock valued at $28,000 after buying an additional 237 shares during the last quarter. GAMMA Investing LLC raised its position in LGI Homes by 14.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,093 shares of the financial services provider’s stock worth $133,000 after buying an additional 269 shares during the last quarter. Russell Investments Group Ltd. raised its position in LGI Homes by 106.6% during the 2nd 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. Pinnacle Holdings LLC lifted its stake in LGI Homes by 3.7% during the 4th quarter. Pinnacle Holdings LLC now owns 11,174 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 396 shares during the period. Finally, Swiss National Bank lifted its stake in LGI Homes by 1.5% during the 3rd quarter. Swiss National Bank now owns 40,781 shares of the financial services provider’s stock valued at $2,109,000 after acquiring an additional 600 shares during the period. 84.89% of the stock is owned by institutional investors.

About LGI Homes

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.