LGI Homes (NASDAQ:LGIH) Reaches New 52-Week Low – Here’s What Happened

LGI Homes, Inc. (NASDAQ:LGIH)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $82.86 and last traded at $83.54, with a volume of 26213 shares. The stock had previously closed at $85.59.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LGIH. Seaport Res Ptn upgraded shares of LGI Homes from a “strong sell” rating to a “hold” rating in a report on Monday, January 27th. JMP Securities reiterated a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a research note on Friday, January 10th. Wedbush restated a “neutral” rating and set a $115.00 target price (down from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut their price target on LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $118.33.

LGI Homes Stock Performance

The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 9.89 and a beta of 2.03. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. The firm’s 50 day moving average is $93.52 and its 200-day moving average is $103.10.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.41. The business had revenue of $651.85 million for the quarter, compared to analyst estimates of $645.27 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.84 EPS. Analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LGI Homes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. increased its position in shares of LGI Homes by 6.1% during the second quarter. Sei Investments Co. now owns 4,214 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 244 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of LGI Homes by 7.0% in the second quarter. The Manufacturers Life Insurance Company now owns 11,859 shares of the financial services provider’s stock worth $1,061,000 after buying an additional 775 shares in the last quarter. CWM LLC lifted its stake in shares of LGI Homes by 27.5% in the third quarter. CWM LLC now owns 867 shares of the financial services provider’s stock worth $103,000 after buying an additional 187 shares in the last quarter. Creative Planning acquired a new position in LGI Homes during the third quarter worth about $375,000. Finally, Heritage Family Offices LLP purchased a new stake in LGI Homes during the 3rd quarter valued at about $218,000. 84.89% of the stock is owned by hedge funds and other institutional investors.

About LGI Homes

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.