LGI Homes (NASDAQ:LGIH) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of LGI Homes (NASDAQ:LGIH) from a sell rating to a hold rating in a report published on Thursday morning.

A number of other research firms have also recently commented on LGIH. JMP Securities reiterated a market outperform rating and set a $160.00 price objective on shares of LGI Homes in a research report on Friday, April 5th. Wedbush reiterated an underperform rating and set a $74.00 price objective (down previously from $88.00) on shares of LGI Homes in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, LGI Homes has a consensus rating of Hold and an average target price of $110.50.

LGI Homes Trading Up 1.0 %

Shares of LGIH stock opened at $95.85 on Thursday. The stock has a market cap of $2.26 billion, a P/E ratio of 11.38 and a beta of 1.83. The business has a fifty day simple moving average of $107.24 and a 200-day simple moving average of $113.45. LGI Homes has a fifty-two week low of $84.15 and a fifty-two week high of $141.91. The company has a quick ratio of 0.42, a current ratio of 10.66 and a debt-to-equity ratio of 0.67.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, February 20th. The financial services provider reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.35). The company had revenue of $608.41 million for the quarter, compared to analysts’ expectations of $663.95 million. LGI Homes had a return on equity of 11.28% and a net margin of 8.45%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.45 EPS. On average, analysts forecast that LGI Homes will post 9.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other LGI Homes news, CFO Charles Michael Merdian sold 6,361 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $111.95, for a total value of $712,113.95. Following the sale, the chief financial officer now directly owns 9,458 shares of the company’s stock, valued at approximately $1,058,823.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Eric Thomas Lipar sold 10,869 shares of LGI Homes stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $111.95, for a total value of $1,216,784.55. Following the transaction, the chief executive officer now directly owns 627,430 shares of the company’s stock, valued at approximately $70,240,788.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles Michael Merdian sold 6,361 shares of LGI Homes stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $712,113.95. Following the completion of the transaction, the chief financial officer now directly owns 9,458 shares in the company, valued at $1,058,823.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,435 shares of company stock valued at $2,944,291. Insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On LGI Homes

Several hedge funds and other institutional investors have recently modified their holdings of LGIH. SG Americas Securities LLC purchased a new stake in shares of LGI Homes during the 3rd quarter valued at about $946,000. Trellus Management Company LLC purchased a new stake in shares of LGI Homes during the 3rd quarter valued at about $249,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of LGI Homes by 17.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,435 shares of the financial services provider’s stock valued at $342,000 after buying an additional 504 shares during the period. Inspire Investing LLC raised its holdings in shares of LGI Homes by 31.7% during the 3rd quarter. Inspire Investing LLC now owns 3,078 shares of the financial services provider’s stock valued at $306,000 after buying an additional 741 shares during the period. Finally, Montgomery Investment Management Inc. raised its holdings in shares of LGI Homes by 0.8% during the 3rd quarter. Montgomery Investment Management Inc. now owns 101,540 shares of the financial services provider’s stock valued at $10,102,000 after buying an additional 780 shares during the period. 84.89% of the stock is owned by institutional investors and hedge funds.

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.