LGI Homes (NASDAQ:LGIH) Upgraded to “Hold” at ValuEngine

LGI Homes (NASDAQ:LGIH) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, March 27th, ValuEngine reports.

Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. JMP Securities reaffirmed a “buy” rating and issued a $68.00 price target on shares of LGI Homes in a report on Wednesday, March 6th. Wells Fargo & Co lifted their price target on shares of LGI Homes from $58.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday, February 27th. Finally, Zacks Investment Research raised shares of LGI Homes from a “sell” rating to a “hold” rating in a report on Wednesday, December 5th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $64.90.

LGIH stock traded up $1.33 during trading on Wednesday, hitting $69.57. 239,564 shares of the company’s stock traded hands, compared to its average volume of 323,856. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 0.91 and a beta of 0.57. The company has a quick ratio of 1.61, a current ratio of 15.92 and a debt-to-equity ratio of 1.00. LGI Homes has a 1 year low of $37.16 and a 1 year high of $81.88.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, February 26th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.75 by ($0.03). The business had revenue of $425.20 million for the quarter, compared to analysts’ expectations of $429.46 million. LGI Homes had a net margin of 10.32% and a return on equity of 26.36%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.43 earnings per share. Analysts anticipate that LGI Homes will post 6.93 EPS for the current fiscal year.

In other news, insider Michael Larry Snider sold 16,670 shares of LGI Homes stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $60.05, for a total transaction of $1,001,033.50. Following the completion of the sale, the insider now directly owns 200,876 shares in the company, valued at $12,062,603.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric Thomas Lipar sold 40,478 shares of LGI Homes stock in a transaction on Monday, March 18th. The stock was sold at an average price of $56.76, for a total transaction of $2,297,531.28. Following the sale, the chief executive officer now owns 591,685 shares of the company’s stock, valued at $33,584,040.60. The disclosure for this sale can be found here. Insiders have sold 140,281 shares of company stock valued at $8,220,246 over the last quarter. Insiders own 13.40% of the company’s stock.

Large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of LGI Homes by 4.4% during the third quarter. BlackRock Inc. now owns 2,839,434 shares of the financial services provider’s stock worth $134,703,000 after buying an additional 119,807 shares during the period. FMR LLC lifted its stake in shares of LGI Homes by 52.0% during the third quarter. FMR LLC now owns 1,690,144 shares of the financial services provider’s stock worth $80,181,000 after buying an additional 577,909 shares during the period. Montgomery Investment Management Inc. lifted its stake in shares of LGI Homes by 6.0% during the fourth quarter. Montgomery Investment Management Inc. now owns 93,940 shares of the financial services provider’s stock worth $4,248,000 after buying an additional 5,300 shares during the period. Boston Partners lifted its stake in shares of LGI Homes by 293.5% during the fourth quarter. Boston Partners now owns 197,910 shares of the financial services provider’s stock worth $8,949,000 after buying an additional 147,610 shares during the period. Finally, Morgan Stanley lifted its stake in shares of LGI Homes by 22.3% during the third quarter. Morgan Stanley now owns 227,658 shares of the financial services provider’s stock worth $10,801,000 after buying an additional 41,482 shares during the period. Institutional investors and hedge funds own 94.56% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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