LGI Homes (NASDAQ:LGIH) Raised to Hold at Zacks Research

LGI Homes (NASDAQ:LGIH) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

LGIH has been the topic of a number of other reports. Citizens Jmp raised their price objective on LGI Homes from $85.00 to $95.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of LGI Homes in a research note on Monday, December 29th. Finally, Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a research note on Wednesday, January 7th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $74.63.

LGI Homes Trading Down 2.5%

Shares of NASDAQ:LGIH traded down $1.17 on Tuesday, reaching $45.47. 83,303 shares of the company traded hands, compared to its average volume of 458,811. The business’s 50-day simple moving average is $44.42 and its 200 day simple moving average is $46.98. LGI Homes has a 52 week low of $33.55 and a 52 week high of $69.50. The stock has a market capitalization of $1.05 billion, a P/E ratio of 14.54 and a beta of 1.86. The company has a current ratio of 20.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, February 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. LGI Homes had a return on equity of 4.08% and a net margin of 4.25%.The firm had revenue of $473.97 million for the quarter, compared to analysts’ expectations of $479.60 million. During the same period last year, the firm earned $2.15 earnings per share. The company’s revenue for the quarter was down 15.0% compared to the same quarter last year. As a group, equities analysts anticipate that LGI Homes will post 2.45 EPS for the current fiscal year.

Insider Transactions at LGI Homes

In other news, COO Michael Larry Snider sold 6,000 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $42.04, for a total transaction of $252,240.00. Following the completion of the sale, the chief operating officer directly owned 175,556 shares in the company, valued at approximately $7,380,374.24. This represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Charles Michael Merdian sold 7,211 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $42.04, for a total transaction of $303,150.44. Following the sale, the chief financial officer owned 20,540 shares of the company’s stock, valued at approximately $863,501.60. This represents a 25.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 22,451 shares of company stock worth $943,840. Company insiders own 12.60% of the company’s stock.

Institutional Trading of LGI Homes

Institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of LGI Homes by 75.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 237 shares during the period. Russell Investments Group Ltd. lifted its holdings in LGI Homes by 106.6% in the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after buying an additional 305 shares during the period. Los Angeles Capital Management LLC purchased a new stake in LGI Homes in the fourth quarter worth about $29,000. Kemnay Advisory Services Inc. purchased a new stake in LGI Homes in the fourth quarter worth about $32,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in 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 worth $38,000 after buying an additional 827 shares during the period. 84.89% of the stock is currently owned by hedge funds and other 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.