Zacks Investment Research downgraded shares of LGI Homes, Inc. (NASDAQ:LGIH) from a buy rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “LGI Homes, Inc. is engaged in the design and construction of entry-level homes across Texas, Arizona, Florida and Georgia. The company focuses on converting renters of apartments and single-family homes into homeowners by offering homes at affordable locations. LGI Homes, Inc. is headquartered in The Woodlands, Texas. “
Several other equities analysts have also recently weighed in on LGIH. BidaskClub raised LGI Homes from a buy rating to a strong-buy rating in a report on Monday, July 24th. J P Morgan Chase & Co cut LGI Homes from an overweight rating to a neutral rating and set a $49.00 price target on the stock. in a report on Wednesday, August 9th. Deutsche Bank AG increased their price target on LGI Homes from $40.00 to $55.00 and gave the company a buy rating in a report on Thursday, August 10th. Wedbush raised LGI Homes from a neutral rating to an outperform rating and set a $49.00 price target on the stock in a report on Thursday, August 31st. Finally, ValuEngine raised LGI Homes from a buy rating to a strong-buy rating in a report on Saturday, September 30th. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. LGI Homes presently has an average rating of Buy and a consensus target price of $54.33.
LGI Homes (NASDAQ LGIH) opened at $63.52 on Tuesday. The firm has a market capitalization of $1,350.00, a price-to-earnings ratio of 15.08, a PEG ratio of 1.31 and a beta of 0.20. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 8.91. LGI Homes has a twelve month low of $26.82 and a twelve month high of $66.19.
LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.10. The firm had revenue of $365.90 million for the quarter, compared to analysts’ expectations of $355.81 million. LGI Homes had a return on equity of 25.51% and a net margin of 9.26%. The company’s revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. sell-side analysts predict that LGI Homes will post 4.54 earnings per share for the current fiscal year.
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In related news, insider Michael Larry Snider sold 3,500 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $45.81, for a total value of $160,335.00. Following the transaction, the insider now directly owns 191,948 shares of the company’s stock, valued at approximately $8,793,137.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bryan Christopher Sansbury sold 23,101 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $63.28, for a total value of $1,461,831.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,601 shares of company stock worth $4,233,916. 13.60% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. raised its holdings in LGI Homes by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 15,333 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 40 shares during the period. Louisiana State Employees Retirement System raised its holdings in LGI Homes by 1.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System raised its holdings in LGI Homes by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 9,000 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 100 shares during the period. California State Teachers Retirement System raised its holdings in LGI Homes by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 30,595 shares of the financial services provider’s stock worth $1,229,000 after purchasing an additional 200 shares during the period. Finally, Texas Permanent School Fund raised its holdings in LGI Homes by 2.3% in the 2nd quarter. Texas Permanent School Fund now owns 12,616 shares of the financial services provider’s stock worth $507,000 after purchasing an additional 289 shares during the period. 88.22% of the stock is currently owned by institutional investors.
About LGI Homes
LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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