LGI Homes (NASDAQ:LGIH) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of LGI Homes (NASDAQ:LGIH) from a sell rating to a hold rating in a report issued on Saturday.

A number of other research firms also recently commented on LGIH. JMP Securities reaffirmed a market outperform rating and set a $160.00 target price on shares of LGI Homes in a report on Friday, April 5th. Wedbush reaffirmed an underperform rating and set a $74.00 target price (down previously from $88.00) on shares of LGI Homes in a report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $110.50.

LGI Homes Trading Up 1.4 %

NASDAQ:LGIH opened at $102.05 on Friday. The company has a quick ratio of 0.42, a current ratio of 10.66 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $114.12 and its two-hundred day moving average is $113.92. LGI Homes has a 52 week low of $84.15 and a 52 week high of $141.91. The company has a market cap of $2.41 billion, a PE ratio of 12.12 and a beta of 1.83.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, February 20th. The financial services provider reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.35). LGI Homes had a return on equity of 11.28% and a net margin of 8.45%. The firm had revenue of $608.41 million for the quarter, compared to the consensus estimate of $663.95 million. During the same period in the prior year, the business earned $1.45 EPS. The company’s quarterly revenue was up 24.6% on a year-over-year basis. On average, analysts predict that LGI Homes will post 9.24 EPS for the current year.

Insider Transactions at LGI Homes

In other news, CFO Charles Michael Merdian sold 6,361 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $111.95, for a total transaction of $712,113.95. Following the sale, the chief financial officer now directly owns 9,458 shares in the company, valued at approximately $1,058,823.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Charles Michael Merdian sold 6,361 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $111.95, for a total value of $712,113.95. Following the sale, the chief financial officer now directly owns 9,458 shares in the company, valued at approximately $1,058,823.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric Thomas Lipar sold 10,869 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $1,216,784.55. Following the completion of the sale, the chief executive officer now owns 627,430 shares in the company, valued at $70,240,788.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,435 shares of company stock worth $2,944,291. 12.20% of the stock is currently owned by company insiders.

Institutional Trading of LGI Homes

Several large investors have recently added to or reduced their stakes in LGIH. Bank of New York Mellon Corp increased its position in LGI Homes by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 211,227 shares of the financial services provider’s stock valued at $20,633,000 after acquiring an additional 1,374 shares during the period. US Bancorp DE increased its position in LGI Homes by 20.9% in the 1st quarter. US Bancorp DE now owns 1,181 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 204 shares during the period. MetLife Investment Management LLC increased its position in LGI Homes by 53.3% in the 1st quarter. MetLife Investment Management LLC now owns 11,653 shares of the financial services provider’s stock valued at $1,138,000 after acquiring an additional 4,050 shares during the period. Rhumbline Advisers increased its position in LGI Homes by 5.8% in the 1st quarter. Rhumbline Advisers now owns 52,450 shares of the financial services provider’s stock valued at $5,123,000 after acquiring an additional 2,883 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in LGI Homes by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,415 shares of the financial services provider’s stock valued at $1,799,000 after acquiring an additional 2,271 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

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.