LGI Homes Inc. (NASDAQ:LGIH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

According to Zacks, “LGI Homes, Inc. is engaged in the design and construction of entry-level homes across Texas, Arizona, Florida and Georgia. The company focuses on converting renters of apartments and single-family homes into homeowners by offering homes at affordable locations. LGI Homes, Inc. is headquartered in The Woodlands, Texas. “

Separately, Wells Fargo & Co. started coverage on shares of LGI Homes in a report on Wednesday, September 28th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. LGI Homes has a consensus rating of “Buy” and a consensus target price of $40.33.

Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

LGI Homes (NASDAQ:LGIH) opened at 30.93 on Friday. LGI Homes has a 12-month low of $18.74 and a 12-month high of $40.47. The stock’s 50 day moving average price is $32.95 and its 200-day moving average price is $32.12. The firm has a market cap of $650.24 million, a PE ratio of 10.22 and a beta of 0.16.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.01. LGI Homes had a net margin of 8.68% and a return on equity of 24.97%. The firm earned $216.30 million during the quarter, compared to the consensus estimate of $213.78 million. During the same quarter last year, the firm earned $0.76 EPS. The firm’s revenue for the quarter was up 24.3% compared to the same quarter last year. Equities research analysts anticipate that LGI Homes will post $3.36 earnings per share for the current fiscal year.

In related news, insider Eric Thomas Lipar sold 10,000 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $36.66, for a total value of $366,600.00. Following the sale, the insider now directly owns 528,933 shares of the company’s stock, valued at approximately $19,390,683.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC raised its position in shares of LGI Homes by 8.9% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 2,143,479 shares of the company’s stock worth $78,966,000 after buying an additional 174,535 shares during the period. BlackRock Fund Advisors raised its position in shares of LGI Homes by 267.0% in the third quarter. BlackRock Fund Advisors now owns 1,473,784 shares of the company’s stock worth $54,294,000 after buying an additional 1,072,208 shares during the period. Frontier Capital Management Co. LLC raised its position in shares of LGI Homes by 38.6% in the second quarter. Frontier Capital Management Co. LLC now owns 1,430,993 shares of the company’s stock worth $45,706,000 after buying an additional 398,584 shares during the period. Capital Growth Management LP raised its position in shares of LGI Homes by 14.4% in the second quarter. Capital Growth Management LP now owns 955,000 shares of the company’s stock worth $30,503,000 after buying an additional 120,000 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of LGI Homes by 12.2% in the second quarter. Vanguard Group Inc. now owns 582,946 shares of the company’s stock worth $18,620,000 after buying an additional 63,586 shares during the period. 66.95% of the stock is currently owned by institutional investors.

About LGI Homes

LGI Homes, Inc is a homebuilder. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

5 Day Chart for NASDAQ:LGIH

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