BidaskClub downgraded shares of LGI Homes (NASDAQ:LGIH) from a buy rating to a hold rating in a research note published on Friday morning.
Other equities analysts have also issued research reports about the company. Wedbush lowered LGI Homes from an outperform rating to a neutral rating and set a $73.00 price target on the stock. in a research note on Tuesday, April 10th. Zacks Investment Research lowered LGI Homes from a buy rating to a hold rating in a research note on Thursday, March 1st. Finally, ValuEngine raised LGI Homes from a buy rating to a strong-buy rating in a research note on Sunday, December 31st. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $61.50.
LGI Homes stock opened at $70.45 on Friday. The company has a current ratio of 9.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $1,560.35, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.03 and a beta of 0.12. LGI Homes has a 52 week low of $28.57 and a 52 week high of $79.55.
LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.03. The company had revenue of $405.00 million for the quarter, compared to analyst estimates of $377.46 million. LGI Homes had a return on equity of 26.41% and a net margin of 9.01%. The business’s revenue was up 71.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. research analysts anticipate that LGI Homes will post 6.19 earnings per share for the current year.
In related news, CFO Charles Michael Merdian sold 16,967 shares of the company’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $63.80, for a total value of $1,082,494.60. Following the completion of the sale, the chief financial officer now owns 100,497 shares in the company, valued at $6,411,708.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ryan Edone acquired 1,400 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was bought at an average price of $56.36 per share, with a total value of $78,904.00. Following the acquisition, the director now directly owns 22,982 shares of the company’s stock, valued at approximately $1,295,265.52. The disclosure for this purchase can be found here. Insiders have sold 114,432 shares of company stock worth $7,538,012 in the last ninety days. 13.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. increased its holdings in LGI Homes by 384.7% in the fourth quarter. Advisor Group Inc. now owns 1,454 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 1,154 shares during the last quarter. Meadow Creek Investment Management LLC bought a new stake in LGI Homes in the fourth quarter valued at about $172,000. Midas Management Corp bought a new stake in LGI Homes in the fourth quarter valued at about $191,000. SG Americas Securities LLC bought a new stake in LGI Homes in the third quarter valued at about $199,000. Finally, Stifel Financial Corp bought a new stake in LGI Homes in the third quarter valued at about $216,000. Institutional investors and hedge funds own 84.78% of the company’s stock.
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LGI Homes Company Profile
LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington, Tennessee, and Minnesota markets. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.
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