LGI Homes (NASDAQ:LGIH) Given Market Outperform Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of LGI Homes (NASDAQ:LGIH) in a report issued on Friday morning, Benzinga reports. JMP Securities currently has a $160.00 target price on the financial services provider’s stock.

Several other research analysts have also recently issued reports on the stock. StockNews.com cut shares of LGI Homes from a hold rating to a sell rating in a report on Tuesday, March 26th. Wedbush reiterated an underperform rating and issued a $74.00 price target (down previously from $88.00) on shares of LGI Homes in a report on Tuesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, LGI Homes presently has a consensus rating of Hold and an average price target of $110.50.

LGI Homes Stock Down 2.2 %

Shares of LGI Homes stock opened at $98.80 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.42 and a current ratio of 10.66. LGI Homes has a 52-week low of $84.15 and a 52-week high of $141.91. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 11.73 and a beta of 1.83. The company’s 50 day moving average price is $114.87 and its 200-day moving average price is $113.88.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, February 20th. The financial services provider reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.54 by ($0.35). LGI Homes had a return on equity of 11.28% and a net margin of 8.45%. The firm had revenue of $608.41 million during the quarter, compared to the consensus estimate of $663.95 million. During the same quarter in the prior year, the business posted $1.45 EPS. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. Equities research analysts forecast that LGI Homes will post 9.29 EPS for the current year.

Insider Activity at LGI Homes

In other news, General Counsel Scott James Garber sold 1,212 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $135,683.40. Following the sale, the general counsel now owns 13,824 shares in the company, valued at approximately $1,547,596.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Eric Thomas Lipar sold 10,869 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $1,216,784.55. Following the sale, the chief executive officer now owns 627,430 shares in the company, valued at approximately $70,240,788.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Scott James Garber sold 1,212 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $135,683.40. Following the sale, the general counsel now owns 13,824 shares in the company, valued at approximately $1,547,596.80. The disclosure for this sale can be found here. Insiders have sold a total of 26,435 shares of company stock worth $2,944,291 over the last quarter. Corporate insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On LGI Homes

Large investors have recently modified their holdings of the stock. Dark Forest Capital Management LP purchased a new position in shares of LGI Homes in the 1st quarter worth about $27,000. GAMMA Investing LLC purchased a new position in shares of LGI Homes in the 4th quarter worth about $38,000. First Horizon Advisors Inc. raised its position in shares of LGI Homes by 35.8% in the 4th quarter. First Horizon Advisors Inc. now owns 353 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 93 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in shares of LGI Homes in the 3rd quarter worth about $42,000. Finally, RiverPark Advisors LLC purchased a new position in shares of LGI Homes in the 3rd quarter worth about $49,000. Hedge funds and other 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.