LGI Homes (NASDAQ:LGIH) Stock Price Down 4.5% – What’s Next?

LGI Homes, Inc. (NASDAQ:LGIH)’s stock price dropped 4.5% during trading on Thursday . The stock traded as low as $50.79 and last traded at $51.7350. Approximately 98,255 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 348,090 shares. The stock had previously closed at $54.15.

Analysts Set New Price Targets

A number of research firms recently commented on LGIH. JMP Securities raised their price objective on shares of LGI Homes from $75.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 27th. Wedbush reaffirmed a “neutral” rating and issued a $95.00 target price on shares of LGI Homes in a research report on Monday, October 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a report on Monday, November 24th. Citigroup reissued a “market outperform” rating on shares of LGI Homes in a research report on Wednesday, August 27th. Finally, Capital One Financial set a $60.00 price objective on LGI Homes in a research report on Thursday, October 9th. 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 stock. According to MarketBeat, LGI Homes presently has an average rating of “Hold” and a consensus price target of $72.13.

LGI Homes Stock Performance

The company has a current ratio of 18.02, a quick ratio of 0.58 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $1.19 billion, a PE ratio of 11.36 and a beta of 1.85. The firm’s fifty day moving average price is $47.67 and its 200 day moving average price is $53.16.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, November 4th. The financial services provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.09). LGI Homes had a net margin of 5.93% and a return on equity of 5.50%. The firm had revenue of $396.63 million during the quarter, compared to analysts’ expectations of $421.66 million. On average, research analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Hedge Funds Weigh In On LGI Homes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jump Financial LLC bought a new stake in LGI Homes during the 1st quarter valued at approximately $2,144,000. Invesco Ltd. boosted its position in shares of LGI Homes by 10.2% in the first quarter. Invesco Ltd. now owns 71,789 shares of the financial services provider’s stock valued at $4,772,000 after acquiring an additional 6,621 shares during the period. Nuveen LLC bought a new stake in shares of LGI Homes in the first quarter valued at approximately $4,313,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in LGI Homes in the 1st quarter worth $71,000. Finally, EntryPoint Capital LLC increased its holdings in shares of LGI Homes by 47.3% during the 1st quarter. EntryPoint Capital LLC now owns 4,490 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 1,441 shares during the period. Institutional investors own 84.89% of the company’s stock.

About LGI Homes

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.