LGI Homes (LGIH) Cut to Buy at BidaskClub

LGI Homes (NASDAQ:LGIH) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Other equities research analysts also recently issued research reports about the company. ValuEngine raised LGI Homes from a “sell” rating to a “hold” rating in a report on Monday, January 7th. Wells Fargo & Co raised their price objective on LGI Homes from $58.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, February 27th. JMP Securities raised their price objective on LGI Homes from $65.00 to $68.00 and gave the company a “market outperform” rating in a report on Wednesday, February 27th. Finally, Zacks Investment Research raised LGI Homes from a “sell” rating to a “hold” rating in a report on Wednesday, December 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $62.70.

NASDAQ LGIH opened at $56.49 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.61 and a current ratio of 15.92. LGI Homes has a twelve month low of $37.16 and a twelve month high of $81.88. The firm has a market cap of $1.28 billion, a P/E ratio of 9.05, a PEG ratio of 0.77 and a beta of 0.57.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, February 26th. The financial services provider reported $1.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.75 by ($0.03). LGI Homes had a net margin of 10.32% and a return on equity of 26.36%. The firm had revenue of $425.20 million for the quarter, compared to analyst estimates of $429.46 million. During the same period last year, the business earned $1.43 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. On average, analysts forecast that LGI Homes will post 6.92 earnings per share for the current fiscal year.

In other LGI Homes news, insider Michael Larry Snider sold 16,670 shares of LGI Homes stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $60.05, for a total transaction of $1,001,033.50. Following the transaction, the insider now directly owns 200,876 shares of the company’s stock, valued at approximately $12,062,603.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.60% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in LGI Homes by 4.4% during the 3rd 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 holdings in LGI Homes by 40.3% during the 4th quarter. FMR LLC now owns 2,371,309 shares of the financial services provider’s stock worth $107,231,000 after buying an additional 681,165 shares during the period. Epoch Investment Partners Inc. lifted its holdings in LGI Homes by 12.6% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,664,836 shares of the financial services provider’s stock worth $75,283,000 after buying an additional 186,150 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in LGI Homes by 14.6% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,425,195 shares of the financial services provider’s stock worth $64,447,000 after buying an additional 181,951 shares during the period. Finally, Altshuler Shaham Ltd acquired a new position in LGI Homes during the 4th quarter worth about $38,684,000. 94.83% of the stock is currently owned by hedge funds and other 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, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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