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

LGI Homes (NASDAQ:LGIH) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other analysts have also recently commented on LGIH. Weiss Ratings reissued a “sell (d)” rating on shares of LGI Homes in a research report on Friday, May 22nd. Zacks Research raised LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. boosted their price target on LGI Homes from $38.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, LGI Homes presently has an average rating of “Hold” and an average target price of $72.75.

LGI Homes Stock Performance

LGI Homes stock opened at $50.35 on Friday. The stock’s 50 day simple moving average is $43.96 and its two-hundred day simple moving average is $47.14. 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 stock has a market cap of $1.17 billion, a price-to-earnings ratio of 16.51 and a beta of 1.87. LGI Homes has a fifty-two week low of $33.55 and a fifty-two week high of $69.50.

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

Insider Transactions at LGI Homes

In other news, COO Michael Larry Snider sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $42.04, for a total value of $252,240.00. Following the sale, the chief operating officer directly owned 175,556 shares of the company’s stock, valued at $7,380,374.24. The trade was a 3.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Charles Michael Merdian sold 7,211 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $42.04, for a total value of $303,150.44. Following the completion of the sale, the chief financial officer directly owned 20,540 shares in the company, valued at approximately $863,501.60. This represents a 25.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,451 shares of company stock valued at $943,840 in the last ninety days. 12.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LGI Homes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd lifted its position in LGI Homes by 5.4% in the 1st quarter. Altshuler Shaham Ltd now owns 1,087,263 shares of the financial services provider’s stock valued at $42,980,000 after acquiring an additional 55,465 shares in the last quarter. California State Teachers Retirement System lifted its position in LGI Homes by 45.5% in the 1st quarter. California State Teachers Retirement System now owns 28,360 shares of the financial services provider’s stock valued at $1,121,000 after acquiring an additional 8,863 shares in the last quarter. First Trust Advisors LP lifted its position in LGI Homes by 27.7% in the 1st quarter. First Trust Advisors LP now owns 99,354 shares of the financial services provider’s stock valued at $3,927,000 after acquiring an additional 21,523 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in LGI Homes by 10.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 13,177 shares of the financial services provider’s stock valued at $521,000 after acquiring an additional 1,241 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in LGI Homes by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 98,722 shares of the financial services provider’s stock valued at $3,902,000 after acquiring an additional 1,919 shares in the last quarter. 84.89% of the stock is owned by institutional investors.

LGI Homes Company Profile

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.