LGI Homes (NASDAQ:LGIH) Reaches New 52-Week Low – Here’s What Happened

LGI Homes, Inc. (NASDAQ:LGIH) shares hit a new 52-week low on Thursday . The stock traded as low as $61.00 and last traded at $61.12, with a volume of 301073 shares. The stock had previously closed at $67.22.

Wall Street Analysts Forecast Growth

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

LGI Homes Price Performance

The company has a market cap of $1.51 billion, a PE ratio of 7.75 and a beta of 2.13. The stock has a fifty day simple moving average of $77.17 and a two-hundred day simple moving average of $94.17. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.16). LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company had revenue of $557.40 million during the quarter, compared to analysts’ expectations of $588.56 million. During the same quarter in the prior year, the business earned $2.19 EPS. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, equities analysts predict that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

Insider Transactions at LGI Homes

In other news, COO Michael Larry Snider sold 1,105 shares of LGI Homes stock in a transaction on Monday, March 10th. The stock was sold at an average price of $75.94, for a total transaction of $83,913.70. Following the completion of the transaction, the chief operating officer now owns 27,102 shares of the company’s stock, valued at $2,058,125.88. The trade was a 3.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of LGI Homes

Several institutional investors and hedge funds have recently modified their holdings of the business. Summit Investment Advisors Inc. raised its position in shares of LGI Homes by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 141 shares during the last quarter. Mariner LLC raised its holdings in shares of LGI Homes by 3.2% in the fourth quarter. Mariner LLC now owns 4,581 shares of the financial services provider’s stock worth $410,000 after acquiring an additional 143 shares during the last quarter. Blue Trust Inc. lifted its position in shares of LGI Homes by 112.9% in the fourth quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 184 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of LGI Homes by 5.7% during the third quarter. Stifel Financial Corp now owns 3,883 shares of the financial services provider’s stock valued at $460,000 after acquiring an additional 211 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in LGI Homes by 10.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,210 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

About LGI Homes

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.