LGI Homes (NASDAQ:LGIH) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of LGI Homes (NASDAQ:LGIH) from a sell rating to a hold rating in a research report sent to investors on Sunday morning.

LGIH has been the topic of several other reports. JPMorgan Chase & Co. increased their target price on LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Zacks Research upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $72.75.

LGI Homes Price Performance

LGIH stock opened at $46.67 on Friday. LGI Homes has a fifty-two week low of $33.55 and a fifty-two week high of $69.50. The business’s 50 day moving average price is $42.66 and its two-hundred day moving average price is $47.03. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 18.56. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 15.30 and a beta of 1.90.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.22. The company had revenue of $319.74 million for the quarter, compared to the consensus estimate of $328.22 million. LGI Homes had a return on equity of 3.80% and a net margin of 4.22%.The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 EPS. As a group, analysts forecast that LGI Homes will post 2.76 earnings per share for the current fiscal year.

Insider Activity at LGI Homes

In other LGI Homes news, COO Michael Larry Snider sold 7,887 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $42.04, for a total transaction of $331,569.48. Following the completion of the transaction, the chief operating officer owned 30,517 shares of the company’s stock, valued at $1,282,934.68. This represents a 20.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Scott James Garber sold 1,353 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $42.04, for a total transaction of $56,880.12. Following the transaction, the general counsel directly owned 21,716 shares of the company’s stock, valued at $912,940.64. This trade represents a 5.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 22,451 shares of company stock valued at $943,840. Corporate insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On LGI Homes

A number of hedge funds have recently made changes to their positions in LGIH. Royal Bank of Canada lifted its position in shares of LGI Homes by 58.7% in the first quarter. Royal Bank of Canada now owns 4,721 shares of the financial services provider’s stock worth $313,000 after buying an additional 1,746 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of LGI Homes by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,502 shares of the financial services provider’s stock valued at $831,000 after acquiring an additional 621 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of LGI Homes by 5.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock valued at $16,627,000 after acquiring an additional 12,524 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of LGI Homes by 106.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 305 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of LGI Homes by 19.0% during the 2nd quarter. Invesco Ltd. now owns 85,400 shares of the financial services provider’s stock valued at $4,400,000 after acquiring an additional 13,611 shares during the last quarter. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

About LGI Homes

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.