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

StockNews.com upgraded shares of LGI Homes (NASDAQ:LGIH) from a sell rating to a hold rating in a report released on Saturday morning.

A number of other equities research analysts have also issued reports on LGIH. Wedbush reissued an underperform rating and set a $74.00 target price (down previously from $88.00) on shares of LGI Homes in a research note on Tuesday, April 2nd. JMP Securities restated a market outperform rating and set a $160.00 price target on shares of LGI Homes in a report on Friday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $110.50.

LGI Homes Trading Down 2.2 %

Shares of NASDAQ:LGIH opened at $98.80 on Friday. The firm has a fifty day moving average of $114.87 and a two-hundred day moving average of $113.90. The firm has a market capitalization of $2.33 billion, a P/E ratio of 11.73 and a beta of 1.83. LGI Homes has a 12-month low of $84.15 and a 12-month high of $141.91. The company has a quick ratio of 0.42, a current ratio of 10.66 and a debt-to-equity ratio of 0.67.

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 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 company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the business earned $1.45 EPS. On average, equities analysts expect that LGI Homes will post 9.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Michael Larry Snider sold 7,993 shares of LGI Homes stock in a transaction on Monday, March 11th. The shares were sold at an average price of $110.06, for a total value of $879,709.58. Following the transaction, the chief operating officer now owns 19,016 shares in the company, valued at approximately $2,092,900.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Michael Larry Snider sold 7,993 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $110.06, for a total transaction of $879,709.58. Following the transaction, the chief operating officer now owns 19,016 shares in the company, valued at approximately $2,092,900.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Eric Thomas Lipar sold 10,869 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $111.95, for a total transaction of $1,216,784.55. Following the transaction, the chief executive officer now owns 627,430 shares in the company, valued at approximately $70,240,788.50. The disclosure for this sale can be found here. Insiders have sold 26,435 shares of company stock worth $2,944,291 in the last quarter. 12.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its position in shares of LGI Homes by 51.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 563,123 shares of the financial services provider’s stock valued at $75,960,000 after acquiring an additional 190,075 shares in the last quarter. Bank of America Corp DE boosted its position in shares of LGI Homes by 173.6% during the 1st quarter. Bank of America Corp DE now owns 167,427 shares of the financial services provider’s stock valued at $19,092,000 after acquiring an additional 106,232 shares in the last quarter. CDAM UK Ltd boosted its position in shares of LGI Homes by 14.7% during the 4th quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock valued at $89,878,000 after acquiring an additional 86,265 shares in the last quarter. Barclays PLC boosted its position in shares of LGI Homes by 213.0% during the 3rd quarter. Barclays PLC now owns 125,904 shares of the financial services provider’s stock valued at $12,525,000 after acquiring an additional 85,682 shares in the last quarter. Finally, Liontrust Investment Partners LLP boosted its position in shares of LGI Homes by 61.4% during the 3rd quarter. Liontrust Investment Partners LLP now owns 218,912 shares of the financial services provider’s stock valued at $21,780,000 after acquiring an additional 83,237 shares in the last quarter. 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.