LGI Homes (NASDAQ:LGIH) Upgraded by StockNews.com to Hold

LGI Homes (NASDAQ:LGIH) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

LGIH has been the topic of a number of other reports. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price objective on shares of LGI Homes in a report on Friday, April 5th. Wedbush reissued an “underperform” rating and issued a $74.00 target price (down from $88.00) on shares of LGI Homes in a report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $110.50.

LGI Homes Stock Up 1.0 %

NASDAQ LGIH opened at $95.85 on Thursday. The company has a current ratio of 10.66, a quick ratio of 0.42 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average is $107.87 and its two-hundred day moving average is $113.45. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 11.38 and a beta of 1.83. LGI Homes has a 1-year low of $84.15 and a 1-year high of $141.91.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data 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). The company had revenue of $608.41 million for the quarter, compared to analyst estimates of $663.95 million. LGI Homes had a net margin of 8.45% and a return on equity of 11.28%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.45 earnings per share. Equities analysts forecast that LGI Homes will post 9.24 earnings per share for the current fiscal year.

Insider Transactions at LGI Homes

In other news, COO Michael Larry Snider sold 7,993 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $110.06, for a total value of $879,709.58. Following the transaction, the chief operating officer now directly owns 19,016 shares of the company’s stock, valued at approximately $2,092,900.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Charles Michael Merdian sold 6,361 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $712,113.95. Following the completion of the transaction, the chief financial officer now owns 9,458 shares in the company, valued at approximately $1,058,823.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Larry Snider sold 7,993 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $110.06, for a total transaction of $879,709.58. Following the completion of the transaction, the chief operating officer now owns 19,016 shares of the company’s stock, valued at approximately $2,092,900.96. The disclosure for this sale can be found here. Insiders have sold 26,435 shares of company stock valued at $2,944,291 in the last three months. 12.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new stake in shares of LGI Homes during the 4th quarter valued at $38,000. First Horizon Advisors Inc. raised its position in shares of LGI Homes by 35.8% during the 4th quarter. First Horizon Advisors Inc. now owns 353 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 93 shares during the last quarter. Mather Group LLC. bought a new stake in shares of LGI Homes during the 1st quarter valued at $47,000. RiverPark Advisors LLC bought a new stake in shares of LGI Homes during the 3rd quarter valued at $49,000. Finally, International Assets Investment Management LLC bought a new stake in shares of LGI Homes during the 4th quarter valued at $71,000. 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.