LGI Homes, Inc. (NASDAQ:LGIH) Given Consensus Rating of “Reduce” by Brokerages

Shares of LGI Homes, Inc. (NASDAQ:LGIH) have been given an average rating of “Reduce” by the five ratings firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $110.50.

A number of research analysts have commented on the company. JMP Securities restated a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a research note on Friday, April 5th. Wedbush restated an “underperform” rating and issued a $74.00 price objective (down previously from $88.00) on shares of LGI Homes in a report on Tuesday, April 2nd. Finally, StockNews.com upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a research note on Thursday.

Insider Activity

In related news, CFO Charles Michael Merdian sold 6,361 shares of the company’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 $712,113.95. Following the completion of the sale, the chief financial officer now directly owns 9,458 shares of the company’s stock, valued at approximately $1,058,823.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Charles Michael Merdian sold 6,361 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 $712,113.95. Following the completion of the transaction, the chief financial officer now owns 9,458 shares of the company’s stock, valued at approximately $1,058,823.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Scott James Garber sold 1,212 shares of the firm’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 $135,683.40. Following the completion of the sale, the general counsel now directly 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 valued at $2,944,291 over the last 90 days. 12.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LGI Homes

Large investors have recently bought and sold shares of the stock. Raymond James & Associates grew its position in LGI Homes by 5.9% in the 1st quarter. Raymond James & Associates now owns 56,841 shares of the financial services provider’s stock worth $6,615,000 after purchasing an additional 3,173 shares during the last quarter. Wasatch Advisors LP grew its position in LGI Homes by 9.9% during the first quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider’s stock worth $169,929,000 after buying an additional 131,467 shares in the last quarter. Tributary Capital Management LLC grew its position in LGI Homes by 12.1% during the first quarter. Tributary Capital Management LLC now owns 149,945 shares of the financial services provider’s stock worth $17,449,000 after buying an additional 16,203 shares in the last quarter. Mather Group LLC. bought a new position in LGI Homes during the first quarter valued at about $47,000. Finally, Cim LLC acquired a new position in LGI Homes in the 4th quarter valued at approximately $488,000. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Stock Performance

LGIH stock opened at $94.88 on Friday. The firm has a 50 day simple moving average of $108.58 and a 200 day simple moving average of $113.58. LGI Homes has a 52 week low of $84.15 and a 52 week high of $141.91. The stock has a market cap of $2.24 billion, a P/E ratio of 11.27 and a beta of 1.83. 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 (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). LGI Homes had a net margin of 8.45% and a return on equity of 11.28%. The company had revenue of $608.41 million for the quarter, compared to analyst estimates of $663.95 million. During the same period last year, the business earned $1.45 EPS. The company’s quarterly revenue was up 24.6% on a year-over-year basis. Research analysts anticipate that LGI Homes will post 9.24 earnings per share for the current fiscal year.

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.