LGI Homes (LGIH) Lowered to Sell at Zacks Investment Research

LGI Homes (NASDAQ:LGIH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

According to Zacks, “LGI Homes, Inc. is engaged in the design and construction of entry-level homes across Texas, Arizona, Florida and Georgia. The company focuses on converting renters of apartments and single-family homes into homeowners by offering homes at affordable locations. LGI Homes, Inc. is headquartered in The Woodlands, Texas. “

Several other equities research analysts also recently weighed in on the company. Wedbush set a $55.00 price target on LGI Homes and gave the stock a “hold” rating in a report on Thursday, October 4th. ValuEngine downgraded LGI Homes from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. JPMorgan Chase & Co. raised LGI Homes from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $69.00 to $58.50 in a report on Friday, September 21st. Finally, BidaskClub cut LGI Homes from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 15th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $61.88.

Shares of NASDAQ LGIH opened at $38.80 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 15.32 and a quick ratio of 1.47. LGI Homes has a 1-year low of $38.43 and a 1-year high of $81.88. The firm has a market cap of $1.07 billion, a P/E ratio of 8.20, a P/E/G ratio of 0.66 and a beta of 0.07.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, August 7th. The financial services provider reported $1.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.22. LGI Homes had a return on equity of 28.50% and a net margin of 9.81%. The firm had revenue of $419.85 million during the quarter, compared to the consensus estimate of $414.52 million. On average, sell-side analysts predict that LGI Homes will post 6.57 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in LGI Homes by 4.8% in the second quarter. BlackRock Inc. now owns 2,719,627 shares of the financial services provider’s stock worth $157,003,000 after acquiring an additional 124,283 shares in the last quarter. Epoch Investment Partners Inc. raised its position in LGI Homes by 22.9% in the second quarter. Epoch Investment Partners Inc. now owns 1,257,436 shares of the financial services provider’s stock worth $72,591,000 after acquiring an additional 234,406 shares in the last quarter. Wasatch Advisors Inc. raised its position in LGI Homes by 30.9% in the second quarter. Wasatch Advisors Inc. now owns 1,136,799 shares of the financial services provider’s stock worth $65,627,000 after acquiring an additional 268,391 shares in the last quarter. Northern Trust Corp raised its position in LGI Homes by 9.9% in the second quarter. Northern Trust Corp now owns 234,646 shares of the financial services provider’s stock worth $13,546,000 after acquiring an additional 21,074 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in LGI Homes by 5.2% in the first quarter. Principal Financial Group Inc. now owns 156,840 shares of the financial services provider’s stock worth $11,068,000 after acquiring an additional 7,749 shares in the last quarter. Hedge funds and other institutional investors own 89.31% of the company’s stock.

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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