LGI Homes (NASDAQ:LGIH) Stock Rating Lowered by StockNews.com

LGI Homes (NASDAQ:LGIH) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

A number of other equities analysts also recently issued reports on LGIH. JMP Securities reiterated a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a report on Friday, April 5th. Wedbush reissued an “underperform” rating and set a $74.00 price target (down from $88.00) on shares of LGI Homes in a research report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.50.

LGI Homes Stock Up 0.9 %

Shares of NASDAQ LGIH opened at $93.43 on Wednesday. The firm has a fifty day simple moving average of $110.99 and a two-hundred day simple moving average of $113.53. The firm has a market capitalization of $2.20 billion, a PE ratio of 11.10 and a beta of 1.83. The company has a current ratio of 10.66, a quick ratio of 0.42 and a debt-to-equity ratio of 0.67. LGI Homes has a 12 month low of $84.15 and a 12 month high of $141.91.

LGI Homes (NASDAQ:LGIH) last released its quarterly 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 return on equity of 11.28% and a net margin of 8.45%. The company had revenue of $608.41 million during the quarter, compared to the consensus estimate of $663.95 million. During the same period in the previous year, the company earned $1.45 earnings per share. LGI Homes’s quarterly revenue was up 24.6% on a year-over-year basis. Equities analysts expect that LGI Homes will post 9.24 earnings per share for the current year.

Insider Transactions at LGI Homes

In related news, CFO Charles Michael Merdian sold 6,361 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $712,113.95. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Eric Thomas Lipar sold 10,869 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $111.95, for a total value of $1,216,784.55. Following the completion of the transaction, the chief executive officer now owns 627,430 shares in the company, valued at $70,240,788.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles Michael Merdian sold 6,361 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $712,113.95. Following the transaction, the chief financial officer now owns 9,458 shares in the company, valued at approximately $1,058,823.10. The disclosure for this sale can be found here. Insiders sold a total of 26,435 shares of company stock valued at $2,944,291 in the last quarter. 12.40% of the stock is owned by insiders.

Institutional Investors Weigh In On LGI Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP bought a new position in shares of LGI Homes during the 1st quarter valued at $27,000. GAMMA Investing LLC bought a new position in LGI Homes in the fourth quarter valued at about $38,000. First Horizon Advisors Inc. boosted its position in LGI Homes by 35.8% in the fourth 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. Mather Group LLC. bought a new stake in shares of LGI Homes during the 1st quarter valued at about $47,000. Finally, Financial Management Professionals Inc. bought a new position in shares of LGI Homes in the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 84.89% of the company’s stock.

About LGI Homes

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.