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

LGI Homes, Inc. (NASDAQ:LGIH) has received a consensus rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $72.75.

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of LGI Homes from $38.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Wall Street Zen upgraded LGI Homes from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Zacks Research upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st.

Insider Transactions at LGI Homes

In related news, CFO Charles Michael Merdian sold 7,211 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $42.04, for a total transaction of $303,150.44. Following the completion of the sale, the chief financial officer directly owned 20,540 shares in the company, valued at approximately $863,501.60. The trade was a 25.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Larry Snider sold 6,000 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $42.04, for a total value of $252,240.00. Following the completion of the transaction, the chief operating officer directly owned 175,556 shares of the company’s stock, valued at approximately $7,380,374.24. This represents a 3.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,451 shares of company stock valued at $943,840 over the last ninety days. Insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On LGI Homes

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Voss Capital LP raised its position in shares of LGI Homes by 33.3% during the 3rd quarter. Voss Capital LP now owns 300,000 shares of the financial services provider’s stock valued at $15,513,000 after buying an additional 75,000 shares during the period. JPMorgan Chase & Co. grew its position in LGI Homes by 244.6% in the third quarter. JPMorgan Chase & Co. now owns 61,384 shares of the financial services provider’s stock worth $3,174,000 after acquiring an additional 43,572 shares during the period. SG Americas Securities LLC increased its stake in LGI Homes by 1,158.0% during the fourth quarter. SG Americas Securities LLC now owns 91,471 shares of the financial services provider’s stock worth $3,930,000 after acquiring an additional 84,200 shares during the last quarter. Commons Capital LLC acquired a new stake in LGI Homes during the third quarter worth $593,000. Finally, Rafferty Asset Management LLC raised its position in LGI Homes by 83.2% in the third quarter. Rafferty Asset Management LLC now owns 30,624 shares of the financial services provider’s stock valued at $1,584,000 after purchasing an additional 13,909 shares during the period. Institutional investors and hedge funds own 84.89% of the company’s stock.

LGI Homes Price Performance

Shares of NASDAQ LGIH opened at $43.72 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 18.56. The firm has a fifty day moving average of $42.16 and a 200 day moving average of $47.02. The firm has a market cap of $1.02 billion, a PE ratio of 14.33 and a beta of 1.90. LGI Homes has a one year low of $33.55 and a one year high of $69.50.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.22. LGI Homes had a net margin of 4.22% and a return on equity of 3.80%. The business had revenue of $319.74 million for the quarter, compared to the consensus estimate of $328.22 million. During the same period last year, the firm posted $0.17 earnings per share. The company’s revenue was down 9.0% compared to the same quarter last year. As a group, research analysts predict that LGI Homes will post 2.76 EPS for the current fiscal year.

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.