LGI Homes, Inc. (NASDAQ:LGIH) Receives Consensus Rating of “Hold” from Brokerages

LGI Homes, Inc. (NASDAQ:LGIH) has earned a consensus rating of “Hold” from the four brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $118.33.

Several research analysts have commented on LGIH shares. JPMorgan Chase & Co. lowered their target price on LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Wedbush reissued a “neutral” rating and set a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and set a $160.00 target price on shares of LGI Homes in a research note on Friday, January 10th. Finally, Seaport Res Ptn raised LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 27th.

Insider Buying and Selling at LGI Homes

In other LGI Homes news, COO Michael Larry Snider sold 1,105 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $75.94, for a total transaction of $83,913.70. Following the transaction, the chief operating officer now directly owns 27,102 shares in the company, valued at approximately $2,058,125.88. This trade represents a 3.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On LGI Homes

Several large investors have recently bought and sold shares of LGIH. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of LGI Homes by 44.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,676 shares of the financial services provider’s stock worth $554,000 after purchasing an additional 1,434 shares during the period. Paloma Partners Management Co bought a new stake in shares of LGI Homes during the 3rd quarter worth $238,000. HighTower Advisors LLC bought a new stake in shares of LGI Homes during the 3rd quarter worth $229,000. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of LGI Homes during the 3rd quarter worth $6,859,000. Finally, Readystate Asset Management LP bought a new stake in shares of LGI Homes during the 3rd quarter worth $407,000. 84.89% of the stock is currently owned by institutional investors.

LGI Homes Stock Down 6.1 %

LGIH stock opened at $56.73 on Friday. The company has a market cap of $1.33 billion, a PE ratio of 6.80 and a beta of 1.99. The business has a 50-day simple moving average of $73.38 and a 200 day simple moving average of $91.64. LGI Homes has a 52 week low of $54.05 and a 52 week high of $125.83. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, February 25th. The financial services provider reported $2.15 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.16). The business had revenue of $557.40 million for the quarter, compared to analyst estimates of $588.56 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The firm’s revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.19 EPS. Sell-side analysts anticipate that LGI Homes will post 8.46 EPS for the current fiscal year.

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.