LGI Homes Inc. (LGIH) Downgraded by Zacks Investment Research
LGI Homes Inc. (NASDAQ:LGIH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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 recently issued research reports about the company. JMP Securities restated a “buy” rating on shares of LGI Homes in a research note on Saturday, July 9th. Wells Fargo & Co. began coverage on LGI Homes in a research note on Wednesday, September 28th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $40.33.
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LGI Homes (NASDAQ:LGIH) opened at 32.66 on Wednesday. LGI Homes has a 52 week low of $18.74 and a 52 week high of $40.47. The stock has a market capitalization of $686.61 million, a P/E ratio of 10.79 and a beta of -0.01. The stock has a 50 day moving average of $35.96 and a 200 day moving average of $31.74.
LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.87 by $0.09. The company earned $222.72 million during the quarter, compared to the consensus estimate of $219.52 million. LGI Homes had a return on equity of 24.52% and a net margin of 8.63%. The firm’s revenue for the quarter was up 40.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS. On average, equities research analysts predict that LGI Homes will post $3.39 earnings per share for the current fiscal year.
In other LGI Homes news, insider Eric Thomas Lipar sold 10,000 shares of the stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $36.66, for a total transaction of $366,600.00. Following the transaction, the insider now owns 528,933 shares in the company, valued at approximately $19,390,683.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 17.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC boosted its position in LGI Homes by 47.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,968,944 shares of the company’s stock valued at $62,888,000 after buying an additional 636,102 shares during the last quarter. Nordea Investment Management AB purchased a new position in LGI Homes during the second quarter valued at $673,000. Riggs Asset Managment Co. Inc. boosted its position in LGI Homes by 9,723.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 39,294 shares of the company’s stock valued at $1,255,000 after buying an additional 38,894 shares during the last quarter. Redwood Investments LLC boosted its position in LGI Homes by 20.6% in the second quarter. Redwood Investments LLC now owns 154,508 shares of the company’s stock valued at $4,935,000 after buying an additional 26,430 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in LGI Homes during the second quarter valued at $1,177,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.
LGI Homes Company Profile
LGI Homes, Inc is a homebuilder. 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 has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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