LGI Homes (NASDAQ:LGIH) Stock Rating Upgraded by StockNews.com

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

Other research analysts have also recently issued reports about the company. JMP Securities reissued a market outperform rating and set a $160.00 target price on shares of LGI Homes in a research note on Friday, April 5th. Wedbush reissued an underperform rating and set a $74.00 target price (down from $88.00) on shares of LGI Homes in a research note on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $110.50.

LGI Homes Price Performance

LGIH stock opened at $95.85 on Thursday. The company has a current ratio of 10.66, a quick ratio of 0.42 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $2.26 billion, a PE ratio of 11.38 and a beta of 1.83. LGI Homes has a 12-month low of $84.15 and a 12-month high of $141.91. The business’s fifty day moving average price is $107.24 and its 200 day moving average price is $113.56.

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

Insiders Place Their Bets

In other news, General Counsel Scott James Garber sold 1,212 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $111.95, for a total value of $135,683.40. Following the sale, the general counsel now directly owns 13,824 shares in the company, valued at $1,547,596.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other LGI Homes news, CFO Charles Michael Merdian sold 6,361 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $111.95, for a total transaction of $712,113.95. Following the completion of the sale, the chief financial officer now directly owns 9,458 shares in the company, valued at $1,058,823.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Scott James Garber sold 1,212 shares of the company’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 $135,683.40. Following the sale, the general counsel now owns 13,824 shares of the company’s stock, valued at $1,547,596.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,435 shares of company stock worth $2,944,291. 12.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates boosted its holdings in LGI Homes by 5.9% in the first quarter. Raymond James & Associates now owns 56,841 shares of the financial services provider’s stock valued at $6,615,000 after purchasing an additional 3,173 shares during the last quarter. Wasatch Advisors LP lifted its holdings in LGI Homes by 9.9% during the 1st quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider’s stock worth $169,929,000 after buying an additional 131,467 shares during the last quarter. Tributary Capital Management LLC lifted its holdings in LGI Homes by 12.1% during the 1st quarter. Tributary Capital Management LLC now owns 149,945 shares of the financial services provider’s stock worth $17,449,000 after buying an additional 16,203 shares during the last quarter. Mather Group LLC. bought a new position in LGI Homes during the 1st quarter worth approximately $47,000. Finally, Cim LLC bought a new position in LGI Homes during the 4th quarter worth approximately $488,000. 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.