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

LGI Homes, Inc. (NASDAQ:LGIH) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $75.91 and last traded at $75.99, with a volume of 442361 shares changing hands. The stock had previously closed at $77.80.

Analyst Ratings Changes

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

LGI Homes Trading Down 2.3 %

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. The firm has a market capitalization of $1.79 billion, a P/E ratio of 9.11 and a beta of 2.03. The firm has a 50 day moving average price of $87.89 and a two-hundred day moving average price of $101.12.

Institutional Trading of LGI Homes

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning acquired a new position in shares of LGI Homes in the third quarter worth about $375,000. Raymond James & Associates lifted its position in shares of LGI Homes by 18.0% in the 3rd quarter. Raymond James & Associates now owns 114,880 shares of the financial services provider’s stock valued at $13,616,000 after acquiring an additional 17,535 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in LGI Homes in the 3rd quarter worth approximately $43,000. Wealth Enhancement Advisory Services LLC grew its position in LGI Homes by 5.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,232 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 176 shares in the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new stake in LGI Homes during the 3rd quarter valued at $235,000. Institutional investors and hedge funds 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.