LGI Homes (NASDAQ:LGIH) Upgraded to Hold at Zacks Research

LGI Homes (NASDAQ:LGIH) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Citizens Jmp increased their price target on LGI Homes from $85.00 to $95.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 7th. Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a research note on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of LGI Homes in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $74.63.

LGI Homes Trading Up 3.2%

Shares of LGIH stock opened at $46.64 on Tuesday. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 14.90 and a beta of 1.86. The stock has a 50-day moving average of $44.42 and a 200-day moving average of $46.98. The company has a current ratio of 20.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. LGI Homes has a 1-year low of $33.55 and a 1-year high of $69.50.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results 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%.The business’s quarterly revenue was down 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.15 earnings per share. On average, equities research analysts forecast that LGI Homes will post 2.45 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Michael Larry Snider sold 6,000 shares of the firm’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 $252,240.00. Following the completion of the sale, the chief operating officer owned 175,556 shares of the company’s stock, valued at $7,380,374.24. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Scott James Garber sold 1,353 shares of the firm’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 value of $56,880.12. Following the sale, 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 disclosure for this sale is available in the SEC filing. Insiders sold 22,451 shares of company stock valued at $943,840 over the last 90 days. Company insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On LGI Homes

Several large investors have recently added to or reduced their stakes in LGIH. Louisiana State Employees Retirement System acquired a new stake in LGI Homes in the first quarter valued at approximately $356,000. Rockefeller Capital Management L.P. grew its stake in LGI Homes by 1,759.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 827 shares during the period. River Road Asset Management LLC grew its stake in LGI Homes by 2.0% in the fourth quarter. River Road Asset Management LLC now owns 931,391 shares of the financial services provider’s stock valued at $40,013,000 after acquiring an additional 18,682 shares during the period. Virtu Financial LLC grew its stake in LGI Homes by 18.8% in the fourth quarter. Virtu Financial LLC now owns 7,889 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 1,246 shares during the period. Finally, Invesco Ltd. grew its stake in LGI Homes by 49.6% in the fourth quarter. Invesco Ltd. now owns 123,081 shares of the financial services provider’s stock valued at $5,288,000 after acquiring an additional 40,832 shares during the period. Institutional investors and hedge funds own 84.89% of the company’s stock.

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.