LGI Homes (NASDAQ:LGIH) Shares Down 4.3% – Time to Sell?

Shares of LGI Homes, Inc. (NASDAQ:LGIH – Get Free Report) were down 4.3% on Wednesday. The company traded as low as $41.39 and last traded at $41.2340. 47,364 shares changed hands during trading, a decline of 88% from the average session volume of 398,717 shares. The stock had previously closed at $43.10.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LGIH. Wall Street Zen raised shares of LGI Homes from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Citigroup restated a “market outperform” rating on shares of LGI Homes in a research note on Tuesday, October 6th. Finally, Weiss Ratings cut shares of LGI Homes from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $68.00.

Get Our Latest Research Report on LGIH

LGI Homes Price Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.61 and a current ratio of 17.74. The company’s fifty day moving average price is $51.05 and its 200 day moving average price is $51.36. The firm has a market capitalization of $964.15 million, a price-to-earnings ratio of 14.52 and a beta of 1.86.

LGI Homes (NASDAQ:LGIH – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.18. LGI Homes had a net margin of 3.88% and a return on equity of 3.55%. The firm had revenue of $516.05 million for the quarter, compared to analyst estimates of $489.23 million. During the same quarter in the prior year, the business earned $1.36 earnings per share. LGI Homes’s quarterly revenue was up 6.7% on a year-over-year basis.

Hedge Funds Weigh In On LGI Homes

Several institutional investors have recently made changes to their positions in LGIH. Rockefeller Capital Management L.P. lifted its holdings in shares of LGI Homes by 1,759.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 827 shares during the last quarter. Allworth Financial LP acquired a new position in LGI Homes during the 2nd quarter valued at approximately $56,000. Public Employees Retirement System of Ohio acquired a new position in LGI Homes during the 2nd quarter valued at approximately $93,000. Integrated Wealth Concepts LLC bought a new position in LGI Homes during the 2nd quarter worth $111,000. Finally, GAMMA Investing LLC grew its stake in LGI Homes by 14.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,093 shares of the financial services provider’s stock worth $133,000 after buying an additional 269 shares during the last quarter. 84.89% of the stock is owned by institutional investors.

LGI Homes Company Profile

(Get Free Report)

LGI Homes, Inc is a homebuilder that designs, constructs and sells single-family homes in planned residential communities across the United States. The company primarily serves entry-level and first-time homebuyers, while also offering homes for move-up buyers and active-adult customers. Its communities typically feature standardized home designs, modern amenities and financing-related support intended to simplify the homebuying process.

Founded in 2003, LGI Homes has expanded from its original Texas operations into numerous housing markets throughout the South, Southwest and other high-growth regions.

Further Reading

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