LGI Homes (NASDAQ:LGIH) Stock Price Down 4.5% – What’s Next?

LGI Homes, Inc. (NASDAQ:LGIH) was down 4.5% during trading on Thursday . The stock traded as low as $50.79 and last traded at $51.7350. Approximately 98,255 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 348,090 shares. The stock had previously closed at $54.15.

Wall Street Analyst Weigh In

Several equities research analysts have commented on LGIH shares. JMP Securities raised their price target on shares of LGI Homes from $75.00 to $85.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 27th. Capital One Financial set a $60.00 target price on LGI Homes in a research report on Thursday, October 9th. Citigroup reissued a “market outperform” rating on shares of LGI Homes in a research note on Wednesday, August 27th. Wedbush reissued a “neutral” rating and set a $95.00 price target on shares of LGI Homes in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of LGI Homes from $47.00 to $48.50 and gave the stock an “underweight” rating in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $72.13.

LGI Homes Price Performance

The company has a 50 day moving average of $47.67 and a two-hundred day moving average of $53.16. The firm has a market cap of $1.19 billion, a P/E ratio of 11.36 and a beta of 1.85. The company has a quick ratio of 0.58, a current ratio of 18.02 and a debt-to-equity ratio of 0.84.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.09). The business had revenue of $396.63 million during the quarter, compared to analyst estimates of $421.66 million. LGI Homes had a net margin of 5.93% and a return on equity of 5.50%. Sell-side analysts expect that LGI Homes, Inc. will post 8.46 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LGIH. Voss Capital LP grew its holdings in shares of LGI Homes by 33.3% in the 3rd quarter. Voss Capital LP now owns 300,000 shares of the financial services provider’s stock worth $15,513,000 after acquiring an additional 75,000 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of LGI Homes by 75.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 237 shares during the period. Caxton Associates LLP increased its stake in LGI Homes by 2.2% in the 3rd quarter. Caxton Associates LLP now owns 34,290 shares of the financial services provider’s stock worth $1,773,000 after purchasing an additional 749 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in LGI Homes by 118.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 155,012 shares of the financial services provider’s stock worth $8,016,000 after buying an additional 84,079 shares during the period. Finally, Sherbrooke Park Advisers LLC purchased a new stake in LGI Homes during the third quarter valued at about $317,000. Institutional investors own 84.89% of the company’s stock.

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.