LGI Homes, Inc. (LGIH) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of LGI Homes, Inc. (NASDAQ:LGIH) from a buy rating to a hold rating in a research note released on Tuesday.
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. “
Other equities research analysts have also issued reports about the stock. J P Morgan Chase & Co lowered shares of LGI Homes from an overweight rating to a neutral rating and set a $49.00 price target on the stock. in a research note on Wednesday, August 9th. ValuEngine upgraded shares of LGI Homes from a buy rating to a strong-buy rating in a research note on Saturday, September 30th. Wedbush lowered shares of LGI Homes from an outperform rating to a neutral rating and lowered their price target for the company from $55.00 to $49.00 in a research note on Tuesday, October 3rd. BidaskClub downgraded shares of LGI Homes from a strong-buy rating to a buy rating in a research report on Friday, August 25th. Finally, JMP Securities lifted their price objective on shares of LGI Homes from $62.00 to $68.00 and gave the company a market outperform rating in a research report on Wednesday, November 8th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $54.33.
LGI Homes (NASDAQ LGIH) traded up $1.11 on Tuesday, hitting $63.52. 393,933 shares of the stock traded hands, compared to its average volume of 381,918. LGI Homes has a twelve month low of $26.82 and a twelve month high of $66.19. The company has a market capitalization of $1,350.00, a PE ratio of 14.66, a P/E/G ratio of 1.27 and a beta of 0.20. The company has a debt-to-equity ratio of 1.04, a current ratio of 8.91 and a quick ratio of 0.86.
LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.10. LGI Homes had a net margin of 9.26% and a return on equity of 25.51%. The firm had revenue of $365.90 million for the quarter, compared to analysts’ expectations of $355.81 million. During the same period last year, the firm earned $0.86 earnings per share. The business’s revenue for the quarter was up 69.2% on a year-over-year basis. sell-side analysts anticipate that LGI Homes will post 4.54 EPS for the current fiscal year.
In other news, insider Michael Larry Snider sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $62.75, for a total value of $1,255,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric Thomas Lipar sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $54.27, for a total transaction of $1,356,750.00. Following the completion of the transaction, the chief executive officer now owns 504,593 shares of the company’s stock, valued at $27,384,262.11. The disclosure for this sale can be found here. Insiders sold a total of 71,601 shares of company stock valued at $4,233,916 in the last three months. Insiders own 13.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in LGI Homes by 3.9% during the 2nd quarter. BlackRock Inc. now owns 2,493,251 shares of the financial services provider’s stock worth $100,180,000 after purchasing an additional 92,633 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in LGI Homes by 4.3% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,837,651 shares of the financial services provider’s stock worth $73,837,000 after purchasing an additional 75,115 shares in the last quarter. Vanguard Group Inc. increased its position in LGI Homes by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 878,551 shares of the financial services provider’s stock worth $35,299,000 after purchasing an additional 29,296 shares in the last quarter. Heartland Advisors Inc. increased its position in LGI Homes by 3.7% in the 2nd quarter. Heartland Advisors Inc. now owns 727,800 shares of the financial services provider’s stock valued at $29,243,000 after acquiring an additional 25,800 shares during the period. Finally, FMR LLC acquired a new position in LGI Homes in the 2nd quarter valued at approximately $21,233,000. Institutional investors and hedge funds own 88.22% of the company’s stock.
LGI Homes Company Profile
LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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