LGI Homes (NASDAQ:LGIH) Upgraded by StockNews.com to Hold

LGI Homes (NASDAQ:LGIH) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

LGIH has been the topic of a number of other reports. Wedbush restated an “underperform” rating and issued a $74.00 price target (down from $88.00) on shares of LGI Homes in a report on Tuesday, April 2nd. JMP Securities restated a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $110.50.

LGI Homes Stock Performance

NASDAQ LGIH opened at $98.80 on Friday. The business’s 50 day moving average price is $114.87 and its 200-day moving average price is $113.95. LGI Homes has a fifty-two week low of $84.15 and a fifty-two week high of $141.91. The company has a market cap of $2.33 billion, a P/E ratio of 11.73 and a beta of 1.83. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.42 and a current ratio of 10.66.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, February 20th. The financial services provider reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.54 by ($0.35). LGI Homes had a return on equity of 11.28% and a net margin of 8.45%. The firm had revenue of $608.41 million during the quarter, compared to the consensus estimate of $663.95 million. During the same quarter last year, the business posted $1.45 EPS. LGI Homes’s revenue was up 24.6% compared to the same quarter last year. Sell-side analysts predict that LGI Homes will post 9.24 earnings per share for the current year.

Insider Activity

In other LGI Homes news, General Counsel Scott James Garber sold 1,212 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $111.95, for a total transaction of $135,683.40. Following the sale, the general counsel now owns 13,824 shares of the company’s stock, valued at approximately $1,547,596.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Michael Larry Snider sold 7,993 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $110.06, for a total transaction of $879,709.58. Following the transaction, the chief operating officer now owns 19,016 shares in the company, valued at $2,092,900.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Scott James Garber sold 1,212 shares of LGI Homes stock in a transaction on Monday, March 11th. The stock was sold at an average price of $111.95, for a total transaction of $135,683.40. Following the sale, the general counsel now owns 13,824 shares of the company’s stock, valued at $1,547,596.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,435 shares of company stock worth $2,944,291. 12.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LGI Homes

Several hedge funds have recently added to or reduced their stakes in LGIH. Goldman Sachs Group Inc. boosted its stake in shares of LGI Homes by 51.0% in the second quarter. Goldman Sachs Group Inc. now owns 563,123 shares of the financial services provider’s stock worth $75,960,000 after buying an additional 190,075 shares during the last quarter. Bank of America Corp DE boosted its position in LGI Homes by 173.6% in the 1st quarter. Bank of America Corp DE now owns 167,427 shares of the financial services provider’s stock worth $19,092,000 after purchasing an additional 106,232 shares in the last quarter. CDAM UK Ltd grew its stake in shares of LGI Homes by 14.7% during the 4th quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock worth $89,878,000 after purchasing an additional 86,265 shares during the period. Barclays PLC increased its holdings in shares of LGI Homes by 213.0% during the 3rd quarter. Barclays PLC now owns 125,904 shares of the financial services provider’s stock valued at $12,525,000 after purchasing an additional 85,682 shares in the last quarter. Finally, Liontrust Investment Partners LLP lifted its stake in shares of LGI Homes by 61.4% in the 3rd quarter. Liontrust Investment Partners LLP now owns 218,912 shares of the financial services provider’s stock valued at $21,780,000 after purchasing an additional 83,237 shares during the period. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Company Profile

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.