LGI Homes (NASDAQ:LGIH) Shares Gap Down – Time to Sell?

Shares of LGI Homes, Inc. (NASDAQ:LGIH) gapped down prior to trading on Tuesday. The stock had previously closed at $43.01, but opened at $41.11. LGI Homes shares last traded at $42.3440, with a volume of 6,887 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citigroup reissued a “market outperform” rating on shares of LGI Homes in a report on Tuesday, October 6th. Weiss Ratings downgraded shares of LGI Homes from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, September 21st. Finally, Wall Street Zen upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $68.00.

LGI Homes Stock Performance

The firm has a market capitalization of $1.00 billion, a PE ratio of 15.09 and a beta of 1.86. The business has a 50-day simple moving average of $51.35 and a 200-day simple moving average of $51.32. The company has a debt-to-equity ratio of 0.74, a current ratio of 17.74 and a quick ratio of 0.61.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. The firm had revenue of $516.05 million during the quarter, compared to analysts’ expectations of $489.23 million. LGI Homes had a return on equity of 3.55% and a net margin of 3.88%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 EPS.

Institutional Trading of LGI Homes

A number of institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its position in LGI Homes by 1,759.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 827 shares during the last quarter. Allworth Financial LP bought a new stake in shares of LGI Homes in the 2nd quarter worth about $56,000. Public Employees Retirement System of Ohio bought a new stake in shares of LGI Homes in the 2nd quarter worth about $93,000. Integrated Wealth Concepts LLC bought a new stake in shares of LGI Homes in the 2nd quarter worth about $111,000. Finally, GAMMA Investing LLC lifted its holdings in shares of LGI Homes by 14.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,093 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 269 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors.

LGI Homes Company Profile

LGI Homes, Inc is a residential construction company that designs, builds and sells new homes primarily to first-time buyers, move-up buyers and active-adult customers. Its portfolio generally includes single-family homes and, in select communities, townhomes and other attached housing. The company offers homes in a range of floor plans and typically emphasizes value-oriented designs, included features and move-in-ready construction.

Founded in 2003, LGI Homes serves buyers through communities across multiple regions of the United States, including markets in the South, Southeast, Southwest, West and select other metropolitan areas.