LGI Homes (NASDAQ:LGIH) Reaches New 1-Year Low – Here’s Why

LGI Homes, Inc. (NASDAQ:LGIH)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $81.35 and last traded at $81.88, with a volume of 7531 shares. The stock had previously closed at $84.08.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LGIH. Seaport Res Ptn upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 27th. JMP Securities reissued a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a research report on Friday, January 10th. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price (down from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $118.33.

LGI Homes Trading Down 3.4 %

The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The firm has a fifty day simple moving average of $90.17 and a two-hundred day simple moving average of $101.87. The firm has a market capitalization of $1.91 billion, a P/E ratio of 9.75 and a beta of 2.03.

Institutional Investors Weigh In On LGI Homes

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in LGI Homes by 131.4% during the third quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock worth $13,222,000 after purchasing an additional 63,346 shares during the period. Citigroup Inc. lifted its stake in shares of LGI Homes by 60.9% during the 3rd quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider’s stock valued at $4,954,000 after buying an additional 15,818 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in LGI Homes by 5.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,232 shares of the financial services provider’s stock worth $383,000 after buying an additional 176 shares during the period. Sanctuary Advisors LLC purchased a new position in LGI Homes in the 3rd quarter valued at approximately $334,000. Finally, Creative Planning bought a new stake in LGI Homes during the 3rd quarter valued at $375,000. Hedge funds and other 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.