LGI Homes (LGIH) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of LGI Homes (NASDAQ:LGIH) from a buy rating to a hold rating in a report issued on Thursday morning.
According to Zacks, “LGI Homes, Inc. is engaged in the design and construction of entry-level homes across Texas, Arizona, Florida and Georgia. The company focuses on converting renters of apartments and single-family homes into homeowners by offering homes at affordable locations. LGI Homes, Inc. is headquartered in The Woodlands, Texas. “
Several other analysts have also recently issued reports on LGIH. Wedbush restated a neutral rating and set a $60.00 target price (up from $55.00) on shares of LGI Homes in a research report on Wednesday, November 8th. JMP Securities upped their target price on shares of LGI Homes from $62.00 to $68.00 and gave the company a market outperform rating in a research report on Wednesday, November 8th. TheStreet upgraded shares of LGI Homes from a c+ rating to a b- rating in a research report on Monday, November 13th. ValuEngine upgraded shares of LGI Homes from a buy rating to a strong-buy rating in a research report on Sunday, December 31st. Finally, BidaskClub cut shares of LGI Homes from a strong-buy rating to a buy rating in a research report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $61.50.
LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, February 27th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.03. The firm had revenue of $405.00 million for the quarter, compared to analysts’ expectations of $377.46 million. LGI Homes had a net margin of 9.01% and a return on equity of 26.41%. The business’s revenue was up 71.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 EPS. equities analysts forecast that LGI Homes will post 6.08 earnings per share for the current year.
In related news, CEO Eric Thomas Lipar sold 25,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $72.03, for a total value of $1,800,750.00. Following the sale, the chief executive officer now directly owns 491,233 shares of the company’s stock, valued at approximately $35,383,512.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.60% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of LGIH. Advisor Group Inc. raised its position in LGI Homes by 384.7% in the 4th quarter. Advisor Group Inc. now owns 1,454 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,154 shares during the period. Meadow Creek Investment Management LLC purchased a new stake in LGI Homes in the 4th quarter worth about $172,000. Midas Management Corp purchased a new stake in LGI Homes in the 4th quarter worth about $191,000. SG Americas Securities LLC purchased a new stake in LGI Homes in the 3rd quarter worth about $199,000. Finally, Albion Financial Group UT purchased a new stake in LGI Homes in the 3rd quarter worth about $213,000. 90.10% of the stock is currently owned by institutional investors.
About LGI Homes
LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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