LGI Homes (NASDAQ:LGIH) was downgraded to Sell by StockNews.com

LGI Homes (NASDAQ:LGIH – Find Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Several other brokerages also recently issued reports on LGIH. Wells Fargo & Company reduced their price objective on shares of LGI Homes from $108.00 to $90.00 and set an “equal weight” rating for the company in a research note on Friday, June 17th. JPMorgan Chase & Co. They cut their price objective on LGI Homes from $85.00 to $77.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 12th. JMP Securities cut their price target on LGI Homes from $175.00 to $140.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 3rd. Finally, BTIG Research upgraded shares of LGI Homes from a “sell” rating to a “neutral” rating in a report on Wednesday, April 20th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, LGI Homes presently has an average rating of “Hold” and an average target price of 101.25.

Price performance of LGI houses

NASDAQ:LGIH opened at $112.27 on Thursday. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 6.59 and a beta of 1.57. The company has a debt-to-equity ratio of 0.76, a current ratio of 13.59, and a quick ratio of 0.68. The business has a 50-day simple moving average of $96.32 and a 200-day simple moving average of $104.24. LGI Homes has a 1 year low of $71.73 and a 1 year high of $165.91.

LGI Homes (NASDAQ:LGIH – Find Rating ) last released its quarterly earnings data on Tuesday, August 2nd. The financial services provider reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $4.53 by $0.67. The business had revenue of $723.07 million for the quarter, compared to analysts’ expectations of $715.65 million. LGI Homes had a net margin of 14.67% and a return on equity of 29.21%. The business’s revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the business posted 4.71 earnings per share. equities analysts forecast that LGI Homes will post 19.13 EPS for the current year.

Interior movement at LGI houses

In other LGI Homes news, Director Ryan Edone purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were purchased at an average price of $82.38 per share, for a total value of $82,380.00. Following the transaction, the director now owns 26,778 shares of the company’s stock, valued at approximately $2,205,971.64. The acquisition was disclosed in a document filed with the SEC, accessible via this hyperlink. 12.50% of the shares are currently held by corporate insiders.

LGI Homes Institutional Marketing

A number of hedge funds and other institutional investors have bought and sold shares of LGIH. First Horizon Advisors Inc. raised its holdings in shares of LGI Homes by 298.0% during the 4th quarter. First Horizon Advisors Inc. now owns 203 shares of the financial services provider’s stock valued at $31,000 after buying an additional 152 shares in the last quarter. Rise Advisors LLC bought a new position in LGI Homes in the fourth quarter worth about $33,000. UMB Bank NA MO purchased a new stake in shares of LGI Homes during the fourth quarter worth approximately $36,000. Confluence Wealth Services Inc. bought shares of LGI Homes during the 4th quarter worth about $44,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of LGI Homes during the 1st quarter worth about $58,000. Institutional investors own 84.31 percent of the company.

About LGI Homes

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LGI Homes, Inc designs, builds and sells homes. It offers entry-level homes such as attached and detached homes and active-adult homes under the LGI Homes brand. and luxury series homes under the Terrata Homes brand. The company is involved in the wholesale business, which involves building and selling homes to companies looking to acquire single-family rental properties.

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