LGI Homes (NASDAQ:LGIH) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of LGI Homes (NASDAQ:LGIH) from a strong sell rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

A number of other analysts have also recently issued reports on the stock. Citigroup reiterated an “outperform” rating on shares of LGI Homes in a research note on Wednesday, January 7th. Citizens Jmp raised their price target on shares of LGI Homes from $85.00 to $95.00 and gave the company a “market outperform” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, LGI Homes presently has a consensus rating of “Hold” and an average target price of $74.63.

LGI Homes Stock Up 3.2%

Shares of NASDAQ:LGIH opened at $46.64 on Tuesday. The firm has a 50 day simple moving average of $44.42 and a 200 day simple moving average of $46.98. LGI Homes has a 52 week low of $33.55 and a 52 week high of $69.50. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 20.98. The company has a market cap of $1.08 billion, a PE ratio of 14.90 and a beta of 1.86.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, February 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The company had revenue of $473.97 million for the quarter, compared to analysts’ expectations of $479.60 million. LGI Homes had a return on equity of 4.08% and a net margin of 4.25%.The business’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.15 EPS. As a group, research analysts expect that LGI Homes will post 2.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Michael Larry Snider sold 6,000 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $42.04, for a total value of $252,240.00. Following the completion of the sale, the chief operating officer directly owned 175,556 shares in the company, valued at approximately $7,380,374.24. The trade was a 3.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles Michael Merdian sold 7,211 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $42.04, for a total transaction of $303,150.44. Following the sale, the chief financial officer directly owned 20,540 shares of the company’s stock, valued at approximately $863,501.60. This represents a 25.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,451 shares of company stock valued at $943,840 over the last 90 days. 12.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Tributary Capital Management LLC grew its position in shares of LGI Homes by 93.1% in the third quarter. Tributary Capital Management LLC now owns 386,072 shares of the financial services provider’s stock valued at $19,964,000 after purchasing an additional 186,159 shares during the last quarter. CDAM UK Ltd lifted its position in shares of LGI Homes by 15.4% during the 4th quarter. CDAM UK Ltd now owns 743,153 shares of the financial services provider’s stock worth $31,926,000 after purchasing an additional 99,090 shares during the last quarter. SG Americas Securities LLC boosted its stake in LGI Homes by 1,158.0% during the 4th quarter. SG Americas Securities LLC now owns 91,471 shares of the financial services provider’s stock valued at $3,930,000 after purchasing an additional 84,200 shares during the period. Voloridge Investment Management LLC grew its holdings in LGI Homes by 118.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 155,012 shares of the financial services provider’s stock valued at $8,016,000 after buying an additional 84,079 shares during the last quarter. Finally, Trexquant Investment LP grew its holdings in LGI Homes by 171.3% in the 4th quarter. Trexquant Investment LP now owns 125,065 shares of the financial services provider’s stock valued at $5,373,000 after buying an additional 78,960 shares during the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.