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

LGI Homes, Inc. (NASDAQ:LGIH) has received an average rating of “Hold” from the six brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $72.75.

LGIH has been the topic of several research analyst reports. Zacks Research raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. raised their price objective on shares of LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of LGI Homes in a research note on Friday, May 22nd. Finally, Wall Street Zen lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd.

LGI Homes Stock Down 5.0%

Shares of NASDAQ LGIH opened at $47.31 on Thursday. The firm has a market cap of $1.10 billion, a PE ratio of 15.51 and a beta of 1.87. LGI Homes has a 12-month low of $33.55 and a 12-month high of $69.50. The company’s fifty day simple moving average is $43.47 and its 200 day simple moving average is $47.10. The company has a quick ratio of 0.70, a current ratio of 18.56 and a debt-to-equity ratio of 0.81.

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

Insider Buying and Selling at LGI Homes

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

Institutional Trading of LGI Homes

Several institutional investors and hedge funds have recently made changes to their positions in LGIH. Caitong International Asset Management Co. Ltd raised its holdings in shares of LGI Homes by 75.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 237 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of LGI Homes in the fourth quarter valued at about $29,000. Russell Investments Group Ltd. raised its holdings in shares of LGI Homes by 106.6% in the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 305 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of LGI Homes in the fourth quarter valued at about $32,000. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of LGI Homes by 1,759.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 827 shares during the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

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.