LGI Homes (NASDAQ:LGIH) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

LGI Homes, Inc. (NASDAQ:LGIH)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $52.56 and traded as low as $42.38. LGI Homes shares last traded at $43.19, with a volume of 295,360 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LGIH. Weiss Ratings reaffirmed a “sell (d)” rating on shares of LGI Homes in a report on Monday, December 22nd. Wedbush restated a “neutral” rating and issued a $95.00 price target on shares of LGI Homes in a research report on Monday, October 6th. JPMorgan Chase & Co. increased their price objective on LGI Homes from $47.00 to $48.50 and gave the stock an “underweight” rating in a research report on Tuesday, October 14th. Finally, Capital One Financial set a $60.00 target price on LGI Homes in a research note on Thursday, October 9th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $72.13.

LGI Homes Stock Up 0.5%

The stock has a market capitalization of $996.83 million, a PE ratio of 9.53 and a beta of 1.85. The firm’s fifty day moving average is $46.96 and its 200-day moving average is $52.56. The company has a quick ratio of 0.58, a current ratio of 18.02 and a debt-to-equity ratio of 0.84.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.09). LGI Homes had a net margin of 5.93% and a return on equity of 5.50%. The business had revenue of $396.63 million during the quarter, compared to analysts’ expectations of $421.66 million. On average, equities research analysts predict that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB boosted its position in shares of LGI Homes by 453.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 531 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 435 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of LGI Homes by 75.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 237 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of LGI Homes by 106.6% in the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 305 shares during the period. Signaturefd LLC boosted its holdings in LGI Homes by 284.4% during the second quarter. Signaturefd LLC now owns 815 shares of the financial services provider’s stock worth $42,000 after buying an additional 603 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in LGI Homes by 35.1% during the third quarter. Versant Capital Management Inc now owns 947 shares of the financial services provider’s stock worth $49,000 after buying an additional 246 shares during the period. Hedge funds and other institutional investors own 84.89% of the company’s stock.

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.