LGI Homes (NASDAQ:LGIH) Sets New 1-Year Low – What’s Next?
by Danessa Lincoln · The Markets DailyLGI Homes, Inc. (NASDAQ:LGIH – Get Free Report) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $39.54 and last traded at $39.1140, with a volume of 55416 shares trading hands. The stock had previously closed at $40.93.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on LGIH shares. Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a report on Monday, December 29th. Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a research report on Wednesday, January 7th. Finally, Citizens Jmp lifted their target price on LGI Homes from $85.00 to $95.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 7th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, LGI Homes currently has an average rating of “Hold” and an average target price of $74.63.
Get Our Latest Stock Analysis on LGI Homes
LGI Homes Trading Down 3.8%
The company has a debt-to-equity ratio of 0.79, a current ratio of 20.98 and a quick ratio of 0.76. The business’s 50-day moving average is $51.65 and its two-hundred day moving average is $50.30. The firm has a market cap of $910.40 million, a P/E ratio of 12.57 and a beta of 1.88.
LGI Homes (NASDAQ:LGIH – Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. LGI Homes had a net margin of 4.25% and a return on equity of 4.08%. The firm had revenue of $473.97 million for the quarter, compared to analysts’ expectations of $479.60 million. During the same period in the previous year, the firm posted $2.15 EPS. The company’s revenue for the quarter was down 15.0% on a year-over-year basis. As a group, analysts predict that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.
Insider Buying and Selling
In other LGI Homes news, CFO Charles Michael Merdian sold 7,211 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $42.04, for a total transaction of $303,150.44. Following the transaction, the chief financial officer owned 20,540 shares of the company’s stock, valued at $863,501.60. The trade was a 25.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Scott James Garber sold 1,353 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $42.04, for a total value of $56,880.12. Following the sale, the general counsel owned 21,716 shares in the company, valued at approximately $912,940.64. This represents a 5.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 22,451 shares of company stock worth $943,840. Corporate insiders own 12.30% of the company’s stock.
Hedge Funds Weigh In On LGI Homes
Several hedge funds and other institutional investors have recently made changes to their positions in LGIH. Caitong International Asset Management Co. Ltd increased its holdings in LGI Homes by 75.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock worth $28,000 after buying an additional 237 shares during the last quarter. Versant Capital Management Inc lifted its stake in LGI Homes by 35.1% in the third quarter. Versant Capital Management Inc now owns 947 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 246 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in LGI Homes by 4.8% in the second quarter. PNC Financial Services Group Inc. now owns 5,976 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 275 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in shares of LGI Homes by 2.6% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 10,970 shares of the financial services provider’s stock valued at $567,000 after acquiring an additional 275 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of LGI Homes by 106.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 305 shares during the last quarter. 84.89% of the stock is owned by institutional investors.
LGI Homes Company Profile
LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.
In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.