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

Shares of LGI Homes, Inc. (NASDAQ:LGIH) have received a consensus recommendation of “Reduce” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $110.50.

Several equities research analysts recently commented on LGIH shares. Wedbush reissued an “underperform” rating and issued a $74.00 price target (down previously from $88.00) on shares of LGI Homes in a report on Tuesday, April 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 target price on shares of LGI Homes in a report on Friday, April 5th. Finally, StockNews.com lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th.

Insider Transactions at LGI Homes

In related news, General Counsel Scott James Garber sold 1,212 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 value of $135,683.40. Following the completion of the sale, the general counsel now owns 13,824 shares of the company’s stock, valued at $1,547,596.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Michael Larry Snider sold 7,993 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $110.06, for a total value of $879,709.58. Following the completion of the sale, the chief operating officer now owns 19,016 shares of the company’s stock, valued at $2,092,900.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Scott James Garber sold 1,212 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 $135,683.40. Following the completion of the sale, the general counsel now directly owns 13,824 shares of the company’s stock, valued at approximately $1,547,596.80. The disclosure for this sale can be found here. Insiders sold 26,435 shares of company stock valued at $2,944,291 over the last 90 days. 12.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LGI Homes

A number of hedge funds have recently modified their holdings of the company. Financial Management Professionals Inc. acquired a new position in LGI Homes in the third quarter valued at about $42,000. SG Americas Securities LLC acquired a new position in LGI Homes in the third quarter valued at about $946,000. 1900 Wealth Management LLC acquired a new position in LGI Homes in the third quarter valued at about $389,000. BTC Capital Management Inc. lifted its position in LGI Homes by 22.3% in the third quarter. BTC Capital Management Inc. now owns 2,626 shares of the financial services provider’s stock valued at $261,000 after buying an additional 479 shares during the last quarter. Finally, Trellus Management Company LLC acquired a new position in LGI Homes in the third quarter valued at about $249,000. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Price Performance

Shares of NASDAQ LGIH opened at $96.18 on Friday. The firm has a market cap of $2.27 billion, a PE ratio of 11.42 and a beta of 1.83. The firm has a fifty day moving average of $109.74 and a 200 day moving average of $113.70. 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 has a one year low of $84.15 and a one year high of $141.91.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, February 20th. The financial services provider reported $2.19 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.35). The company had revenue of $608.41 million during the quarter, compared to analysts’ expectations of $663.95 million. LGI Homes had a return on equity of 11.28% and a net margin of 8.45%. LGI Homes’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.45 EPS. As a group, research analysts predict that LGI Homes will post 9.24 EPS for the current fiscal year.

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.