LGI Homes (NASDAQ:LGIH) Sets New 12-Month Low – Here’s What Happened

LGI Homes, Inc. (NASDAQ:LGIH)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $82.99 and last traded at $83.16, with a volume of 7758 shares trading hands. The stock had previously closed at $84.65.

Analysts Set New Price Targets

Several research firms have recently issued reports on LGIH. JPMorgan Chase & Co. cut their price objective on shares of LGI Homes from $100.00 to $82.00 and set an “underweight” rating on the stock in a report on Friday, December 13th. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price target (down previously from $125.00) on shares of LGI Homes in a report on Tuesday.

LGI Homes Stock Up 1.4 %

The company has a market capitalization of $2.02 billion, a PE ratio of 10.30 and a beta of 2.02. The business’s 50-day simple moving average is $100.40 and its 200-day simple moving average is $103.72. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business had revenue of $651.85 million for the quarter, compared to analyst estimates of $645.27 million. During the same period in the previous year, the firm earned $2.84 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, equities research analysts anticipate that LGI Homes, Inc. will post 8.72 EPS for the current fiscal year.

Hedge Funds Weigh In On LGI Homes

Several hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of LGI Homes during the 3rd quarter worth $43,000. KBC Group NV increased its holdings in LGI Homes by 29.8% in the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 168 shares in the last quarter. CWM LLC lifted its stake in shares of LGI Homes by 27.5% during the third quarter. CWM LLC now owns 867 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 187 shares in the last quarter. Heritage Family Offices LLP purchased a new stake in shares of LGI Homes in the third quarter worth about $218,000. Finally, HighTower Advisors LLC acquired a new stake in shares of LGI Homes in the third quarter valued at about $229,000. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Company Profile

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.