LGI Homes (NASDAQ:LGIH) Downgraded by ValuEngine

LGI Homes (NASDAQ:LGIH) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Tuesday, ValuEngine reports.

LGIH has been the topic of a number of other research reports. BidaskClub raised LGI Homes from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. BTIG Research raised their price target on LGI Homes from $62.00 to $65.00 and gave the stock a “sell” rating in a research report on Monday, September 23rd. Finally, Zacks Investment Research raised LGI Homes from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $83.70.

Shares of NASDAQ LGIH traded up $0.36 on Tuesday, hitting $79.77. The company’s stock had a trading volume of 2,269 shares, compared to its average volume of 238,176. LGI Homes has a 12-month low of $52.16 and a 12-month high of $89.00. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 12.49 and a beta of 0.44. The company has a debt-to-equity ratio of 0.97, a current ratio of 14.90 and a quick ratio of 1.16. The stock has a 50 day moving average of $72.70 and a 200-day moving average of $76.08.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.89 by $0.04. LGI Homes had a net margin of 9.43% and a return on equity of 22.07%. The business had revenue of $483.10 million for the quarter, compared to analyst estimates of $486.83 million. During the same period in the prior year, the business earned $1.52 earnings per share. The company’s quarterly revenue was up 27.0% on a year-over-year basis. Sell-side analysts expect that LGI Homes will post 6.84 EPS for the current fiscal year.

In other news, Director Ryan Edone sold 1,500 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $73.45, for a total value of $110,175.00. Following the completion of the transaction, the director now directly owns 28,125 shares of the company’s stock, valued at $2,065,781.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bryan Christopher Sansbury sold 9,200 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $72.00, for a total value of $662,400.00. Following the completion of the transaction, the director now directly owns 17,353 shares of the company’s stock, valued at $1,249,416. The disclosure for this sale can be found here. Insiders own 13.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Moon Capital Management LLC raised its holdings in shares of LGI Homes by 5.5% in the fourth quarter. Moon Capital Management LLC now owns 32,933 shares of the financial services provider’s stock worth $2,327,000 after acquiring an additional 1,718 shares during the last quarter. Metropolitan Life Insurance Co NY increased its stake in LGI Homes by 18.7% in the third quarter. Metropolitan Life Insurance Co NY now owns 6,548 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 1,031 shares during the last quarter. Millennium Management LLC increased its stake in LGI Homes by 216.2% in the third quarter. Millennium Management LLC now owns 456,511 shares of the financial services provider’s stock valued at $38,036,000 after purchasing an additional 312,154 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in LGI Homes in the third quarter valued at $25,000. Finally, California State Teachers Retirement System increased its stake in LGI Homes by 1.2% in the third quarter. California State Teachers Retirement System now owns 31,219 shares of the financial services provider’s stock valued at $2,601,000 after purchasing an additional 373 shares during the last quarter. 96.37% 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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