LGI Homes (NASDAQ:LGIH) Hits New 52-Week Low – What’s Next?

LGI Homes, Inc. (NASDAQ:LGIH)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $68.45 and last traded at $68.77, with a volume of 67467 shares traded. The stock had previously closed at $69.75.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LGIH shares. JMP Securities reissued a “market outperform” rating and set a $160.00 target price on shares of LGI Homes in a report on Friday, January 10th. JPMorgan Chase & Co. reduced their price objective on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Seaport Res Ptn raised LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 27th. Finally, Wedbush restated a “neutral” rating and issued a $115.00 price target (down previously from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, LGI Homes currently has an average rating of “Hold” and an average price target of $118.33.

LGI Homes Trading Down 4.9 %

The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The company has a market capitalization of $1.54 billion, a P/E ratio of 7.88 and a beta of 2.13. The firm has a fifty day moving average price of $79.87 and a 200-day moving average price of $95.71.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.16). The business had revenue of $557.40 million during the quarter, compared to the consensus estimate of $588.56 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.19 EPS. On average, equities research analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Insider Buying and Selling

In other LGI Homes news, COO Michael Larry Snider sold 1,105 shares of the 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 completion of the transaction, the chief operating officer now directly owns 27,102 shares of the company’s stock, valued at approximately $2,058,125.88. This represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.30% of the stock is currently owned by corporate insiders.

Institutional Trading of LGI Homes

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in LGI Homes by 112.9% in the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 184 shares during the last quarter. Sterling Capital Management LLC boosted its position in LGI Homes by 801.5% during the fourth quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 545 shares during the period. KBC Group NV increased its stake in shares of LGI Homes by 51.6% in the fourth quarter. KBC Group NV now owns 1,110 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 378 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of LGI Homes in the third quarter valued at approximately $229,000. Finally, Paloma Partners Management Co purchased a new stake in shares of LGI Homes during the 3rd quarter valued at approximately $238,000. 84.89% of the stock is currently owned by institutional investors.

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.