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

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

LGIH has been the topic of several other reports. Wedbush reiterated an “underperform” rating and set a $74.00 target price (down from $88.00) on shares of LGI Homes in a report on Tuesday, April 2nd. JMP Securities reiterated a “market outperform” rating and set a $160.00 price objective on shares of LGI Homes in a research note on Friday, April 5th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $110.50.

LGI Homes Stock Performance

Shares of NASDAQ:LGIH opened at $93.43 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.42 and a current ratio of 10.66. The firm has a market cap of $2.20 billion, a PE ratio of 11.10 and a beta of 1.83. The firm’s 50 day simple moving average is $110.99 and its 200-day simple moving average is $113.53. LGI Homes has a one year low of $84.15 and a one year high of $141.91.

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

Insider Buying and Selling

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

Institutional Trading of LGI Homes

Several institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in LGI Homes by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 211,227 shares of the financial services provider’s stock worth $20,633,000 after buying an additional 1,374 shares in the last quarter. US Bancorp DE boosted its stake in shares of LGI Homes by 20.9% in the first quarter. US Bancorp DE now owns 1,181 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 204 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of LGI Homes by 53.3% during the first quarter. MetLife Investment Management LLC now owns 11,653 shares of the financial services provider’s stock worth $1,138,000 after purchasing an additional 4,050 shares in the last quarter. Rhumbline Advisers raised its stake in LGI Homes by 5.8% in the 1st quarter. Rhumbline Advisers now owns 52,450 shares of the financial services provider’s stock valued at $5,123,000 after purchasing an additional 2,883 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in LGI Homes by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,415 shares of the financial services provider’s stock valued at $1,799,000 after purchasing an additional 2,271 shares in the last quarter. Institutional investors and hedge funds 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.