LGI Homes (NASDAQ:LGIH) Shares Down 4.5% – Time to Sell?

Shares of LGI Homes, Inc. (NASDAQ:LGIH) fell 4.5% during trading on Thursday . The stock traded as low as $50.79 and last traded at $51.7350. 98,255 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 348,090 shares. The stock had previously closed at $54.15.

Analysts Set New Price Targets

LGIH has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of LGI Homes from $47.00 to $48.50 and gave the stock an “underweight” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “sell (d)” rating on shares of LGI Homes in a report on Monday, November 24th. Wedbush restated a “neutral” rating and issued a $95.00 price target on shares of LGI Homes in a research report on Monday, October 6th. Citigroup reaffirmed a “market outperform” rating on shares of LGI Homes in a research report on Wednesday, August 27th. Finally, Capital One Financial set a $60.00 price objective on shares of LGI Homes in a research note on Thursday, October 9th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $72.13.

LGI Homes Price Performance

The business’s fifty day moving average price is $47.63 and its 200 day moving average price is $53.10. The company has a debt-to-equity ratio of 0.84, a current ratio of 18.02 and a quick ratio of 0.58. The stock has a market cap of $1.16 billion, a P/E ratio of 11.13 and a beta of 1.85.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.09). The company had revenue of $396.63 million for the quarter, compared to analyst estimates of $421.66 million. LGI Homes had a return on equity of 5.50% and a net margin of 5.93%. Sell-side analysts forecast that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

Institutional Investors Weigh In On LGI Homes

Several hedge funds have recently modified their holdings of the company. Wasatch Advisors LP lifted its holdings in LGI Homes by 3.4% in the second quarter. Wasatch Advisors LP now owns 1,467,855 shares of the financial services provider’s stock worth $75,624,000 after buying an additional 48,795 shares during the period. CDAM UK Ltd grew its holdings in shares of LGI Homes by 4.4% during the 1st quarter. CDAM UK Ltd now owns 766,210 shares of the financial services provider’s stock worth $50,930,000 after acquiring an additional 32,267 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of LGI Homes by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 395,810 shares of the financial services provider’s stock worth $26,309,000 after acquiring an additional 19,017 shares in the last quarter. Tributary Capital Management LLC lifted its stake in shares of LGI Homes by 93.1% in the 3rd 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 period. Finally, Voss Capital LP boosted its position in shares of LGI Homes by 33.3% during the third quarter. Voss Capital LP now owns 300,000 shares of the financial services provider’s stock valued at $15,513,000 after purchasing an additional 75,000 shares in the last quarter. Institutional investors and hedge funds 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.