LGI Homes (NASDAQ:LGIH) Shares Gap Down – Here’s Why

by · The Cerbat Gem

LGI Homes, Inc. (NASDAQ:LGIH – Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $93.58, but opened at $91.65. LGI Homes shares last traded at $94.35, with a volume of 58,053 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wedbush reissued a “neutral” rating and issued a $125.00 target price on shares of LGI Homes in a research report on Wednesday, November 6th. JPMorgan Chase & Co. cut their price objective on LGI Homes from $100.00 to $82.00 and set an “underweight” rating on the stock in a report on Friday, December 13th.

View Our Latest Stock Analysis on LGI Homes

LGI Homes Stock Performance

The firm’s fifty day simple moving average is $105.95 and its 200 day simple moving average is $104.15. The company has a market capitalization of $2.14 billion, a PE ratio of 10.94 and a beta of 1.99. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54.

LGI Homes (NASDAQ:LGIH – Get Free Report) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.54 by $0.41. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The firm had revenue of $651.85 million for the quarter, compared to analyst estimates of $645.27 million. During the same period last year, the company earned $2.84 earnings per share. LGI Homes’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts predict that LGI Homes, Inc. will post 8.72 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of LGI Homes during the 3rd quarter worth approximately $43,000. Innealta Capital LLC purchased a new stake in LGI Homes in the 2nd quarter worth $39,000. KBC Group NV raised its position in LGI Homes by 29.8% during the third quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 168 shares during the period. CWM LLC lifted its holdings in LGI Homes by 27.5% during the third quarter. CWM LLC now owns 867 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 187 shares in the last quarter. Finally, Heritage Family Offices LLP purchased a new stake in shares of LGI Homes during the third quarter worth about $218,000. Institutional investors and hedge funds own 84.89% of the company’s stock.

LGI Homes Company Profile

(Get Free Report)

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.

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