LGI Homes Inc (NASDAQ:LGIH) Receives Average Recommendation of “Hold” from Brokerages

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LGI Homes Inc (NASDAQ:LGIH) has been assigned a consensus recommendation of “Hold” from the nine analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $112.10.

LGIH has been the subject of several recent analyst reports. Wedbush cut LGI Homes from an “outperform” rating to a “neutral” rating and set a $86.00 price target for the company. in a report on Thursday, June 4th. They noted that the move was a valuation call. ValuEngine cut LGI Homes from a “hold” rating to a “sell” rating in a report on Tuesday, August 11th. Zacks Investment Research raised LGI Homes from a “hold” rating to a “strong-buy” rating and set a $136.00 price target for the company in a report on Wednesday, August 5th. BTIG Research raised LGI Homes from a “sell” rating to a “neutral” rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company cut LGI Homes from an “overweight” rating to an “equal weight” rating and set a $122.00 price objective for the company. in a report on Wednesday, August 5th.

Shares of LGIH traded down $7.20 during mid-day trading on Wednesday, hitting $105.30. The company’s stock had a trading volume of 193,441 shares, compared to its average volume of 392,383. The company has a current ratio of 12.35, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a 50-day simple moving average of $112.51 and a 200 day simple moving average of $84.42. The firm has a market capitalization of $2.82 billion, a P/E ratio of 13.40 and a beta of 1.59. LGI Homes has a 1-year low of $33.00 and a 1-year high of $123.94.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.21 EPS for the quarter, beating the consensus estimate of $1.49 by $0.72. The business had revenue of $481.60 million during the quarter, compared to analysts’ expectations of $474.10 million. LGI Homes had a return on equity of 25.02% and a net margin of 10.50%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $1.82 EPS. As a group, sell-side analysts predict that LGI Homes will post 9.16 EPS for the current fiscal year.

In other LGI Homes news, CEO Eric Thomas Lipar sold 6,920 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $122.20, for a total transaction of $845,624.00. Following the completion of the transaction, the chief executive officer now owns 536,252 shares of the company’s stock, valued at $65,529,994.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Duncan S. Gage sold 10,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $112.00, for a total value of $1,120,000.00. Following the transaction, the director now directly owns 26,792 shares of the company’s stock, valued at approximately $3,000,704. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,625 shares of company stock valued at $7,948,007. 12.00% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Glenmede Trust Co. NA increased its position in LGI Homes by 112.4% during the second quarter. Glenmede Trust Co. NA now owns 291 shares of the financial services provider’s stock worth $25,000 after buying an additional 154 shares in the last quarter. Crewe Advisors LLC purchased a new position in LGI Homes during the second quarter worth $33,000. Strs Ohio purchased a new position in LGI Homes during the second quarter worth $61,000. Mutual of America Capital Management LLC increased its position in LGI Homes by 36.2% during the first quarter. Mutual of America Capital Management LLC now owns 971 shares of the financial services provider’s stock worth $44,000 after buying an additional 258 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in LGI Homes during the first quarter worth $51,000. 89.88% of the stock is owned by institutional investors.

About LGI Homes

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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Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

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