LGI Homes (NASDAQ:LGIH) Lowered to Sell at StockNews.com

StockNews.com cut shares of LGI Homes (NASDAQ:LGIH) from a hold rating to a sell rating in a research note published on Friday morning.

A number of other equities research analysts also recently issued reports on the stock. JMP Securities reaffirmed a market outperform rating and set a $160.00 price target on shares of LGI Homes in a research note on Friday, April 5th. Wedbush restated an underperform rating and set a $74.00 target price (down from $88.00) on shares of LGI Homes in a research report on Tuesday, April 2nd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $110.50.

LGI Homes Stock Up 4.8 %

Shares of LGIH opened at $96.73 on Friday. The business’s 50 day moving average is $104.84 and its 200 day moving average is $113.66. The company has a current ratio of 12.36, a quick ratio of 0.42 and a debt-to-equity ratio of 0.74. LGI Homes has a 12-month low of $84.15 and a 12-month high of $141.91. The company has a market capitalization of $2.28 billion, a PE ratio of 12.09 and a beta of 1.86.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.30). The firm had revenue of $390.90 million for the quarter, compared to analysts’ expectations of $400.00 million. LGI Homes had a net margin of 8.37% and a return on equity of 10.43%. The business’s quarterly revenue was down 19.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. Research analysts expect that LGI Homes will post 9.25 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On LGI Homes

Several hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP boosted its stake in shares of LGI Homes by 9.9% during the first quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider’s stock valued at $169,929,000 after purchasing an additional 131,467 shares during the period. Dimensional Fund Advisors LP lifted its holdings in LGI Homes by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,443,038 shares of the financial services provider’s stock valued at $192,158,000 after buying an additional 58,850 shares in the last quarter. CDAM UK Ltd boosted its position in LGI Homes by 14.7% in the 4th quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock valued at $89,878,000 after buying an additional 86,265 shares during the period. Ampfield Management L.P. grew its stake in LGI Homes by 13.0% in the 4th quarter. Ampfield Management L.P. now owns 571,857 shares of the financial services provider’s stock worth $76,148,000 after acquiring an additional 65,609 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of LGI Homes by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 292,719 shares of the financial services provider’s stock worth $38,978,000 after acquiring an additional 10,596 shares during the period. Institutional investors own 84.89% of the company’s stock.

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.