LGI Homes (NASDAQ:LGIH) Lowered to Hold at BidaskClub

BidaskClub cut shares of LGI Homes (NASDAQ:LGIH) from a buy rating to a hold rating in a research note published on Tuesday morning, BidAskClub reports.

A number of other research analysts have also recently weighed in on LGIH. JMP Securities lifted their target price on LGI Homes from $83.00 to $89.00 and gave the company a market outperform rating in a report on Friday, September 6th. Zacks Investment Research cut LGI Homes from a hold rating to a sell rating in a report on Tuesday, October 22nd. Wells Fargo & Co lifted their target price on LGI Homes from $85.00 to $95.00 and gave the company an outperform rating in a report on Friday, September 13th. JPMorgan Chase & Co. cut LGI Homes from an overweight rating to a neutral rating and lifted their target price for the company from $77.00 to $84.50 in a report on Wednesday, September 11th. Finally, BTIG Research lifted their target price on LGI Homes from $62.00 to $65.00 and gave the company a sell rating in a report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $83.30.

Shares of NASDAQ LGIH opened at $70.30 on Tuesday. LGI Homes has a 52-week low of $37.77 and a 52-week high of $89.00. The stock has a market cap of $1.66 billion, a PE ratio of 11.07 and a beta of 0.47. The company has a quick ratio of 1.34, a current ratio of 14.90 and a debt-to-equity ratio of 0.97. The business has a 50-day moving average price of $82.05 and a 200 day moving average price of $75.49.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $1.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.04. LGI Homes had a return on equity of 22.07% and a net margin of 9.43%. The firm had revenue of $483.10 million for the quarter, compared to analysts’ expectations of $486.83 million. During the same quarter last year, the firm earned $1.52 earnings per share. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. Sell-side analysts anticipate that LGI Homes will post 6.72 earnings per share for the current year.

In other news, Director Bryan Christopher Sansbury sold 8,949 shares of LGI Homes stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $80.91, for a total transaction of $724,063.59. Following the sale, the director now directly owns 160,121 shares of the company’s stock, valued at $12,955,390.11. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric Thomas Lipar sold 25,000 shares of LGI Homes stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $80.28, for a total value of $2,007,000.00. Following the sale, the chief executive officer now directly owns 528,058 shares in the company, valued at $42,392,496.24. The disclosure for this sale can be found here. Company insiders own 13.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of LGI Homes by 6.6% during the second quarter. BlackRock Inc. now owns 3,082,158 shares of the financial services provider’s stock worth $220,160,000 after acquiring an additional 191,656 shares during the last quarter. Wasatch Advisors Inc. increased its position in shares of LGI Homes by 14.6% during the second quarter. Wasatch Advisors Inc. now owns 1,512,176 shares of the financial services provider’s stock worth $108,015,000 after acquiring an additional 192,634 shares during the last quarter. Vanguard Group Inc. increased its position in shares of LGI Homes by 3.4% during the second quarter. Vanguard Group Inc. now owns 1,207,807 shares of the financial services provider’s stock worth $86,274,000 after acquiring an additional 39,736 shares during the last quarter. Altshuler Shaham Ltd increased its position in shares of LGI Homes by 2.0% during the second quarter. Altshuler Shaham Ltd now owns 882,787 shares of the financial services provider’s stock worth $63,057,000 after acquiring an additional 17,288 shares during the last quarter. Finally, Neumeier Poma Investment Counsel LLC increased its position in shares of LGI Homes by 1.0% during the second quarter. Neumeier Poma Investment Counsel LLC now owns 459,744 shares of the financial services provider’s stock worth $32,840,000 after acquiring an additional 4,650 shares during the last quarter. 94.15% of the stock is currently owned by institutional investors and hedge funds.

About LGI Homes

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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