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

Shares of LGI Homes, Inc. (NASDAQ:LGIH) have been assigned a consensus rating of “Reduce” from the five research firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $109.00.

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Wedbush reaffirmed an “underperform” rating and set a $74.00 price objective on shares of LGI Homes in a research report on Thursday, June 6th. Finally, StockNews.com lowered LGI Homes from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd.

Hedge Funds Weigh In On LGI Homes

Several large investors have recently bought and sold shares of LGIH. Wasatch Advisors LP increased its holdings in LGI Homes by 9.9% in the first quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider’s stock valued at $169,929,000 after buying an additional 131,467 shares during the last quarter. Bright Financial Advisors Inc. acquired a new position in LGI Homes in the first quarter valued at $12,260,000. CDAM UK Ltd boosted its stake in LGI Homes by 14.7% in the fourth quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock valued at $89,878,000 after acquiring an additional 86,265 shares in the last quarter. Ampfield Management L.P. boosted its stake in LGI Homes by 13.0% in the fourth quarter. Ampfield Management L.P. now owns 571,857 shares of the financial services provider’s stock valued at $76,148,000 after acquiring an additional 65,609 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in LGI Homes by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,443,038 shares of the financial services provider’s stock valued at $192,158,000 after acquiring an additional 58,850 shares in the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Stock Down 4.0 %

Shares of NASDAQ LGIH opened at $106.54 on Friday. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 13.32 and a beta of 1.92. The company has a quick ratio of 0.43, a current ratio of 12.63 and a debt-to-equity ratio of 0.78. LGI Homes has a 52-week low of $84.00 and a 52-week high of $139.03. The business’s 50 day moving average is $96.58 and its two-hundred day moving average is $104.66.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.24. The company had revenue of $602.50 million for the quarter, compared to analyst estimates of $617.44 million. LGI Homes had a return on equity of 10.45% and a net margin of 8.78%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.25 earnings per share. Research analysts predict that LGI Homes will post 8.82 EPS for the current year.

LGI Homes Company Profile

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.