LGI Homes (NASDAQ:LGIH) Hits New 12-Month Low – Time to Sell?

LGI Homes, Inc. (NASDAQ:LGIH) shares reached a new 52-week low on Thursday . The stock traded as low as $68.45 and last traded at $68.77, with a volume of 67467 shares trading hands. The stock had previously closed at $69.75.

Wall Street Analysts Forecast Growth

LGIH has been the topic of a number of research reports. Wedbush reiterated 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. JPMorgan Chase & Co. reduced their price objective on LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. JMP Securities reissued a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a research note on Friday, January 10th. Finally, Seaport Res Ptn upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 27th. Two equities research 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $118.33.

LGI Homes Stock Performance

The firm has a market capitalization of $1.62 billion, a P/E ratio of 8.28 and a beta of 2.13. 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 stock’s 50 day moving average is $80.89 and its two-hundred day moving average is $96.17.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share 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 analyst estimates of $588.56 million. During the same period last year, the company earned $2.19 EPS. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, equities analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Michael Larry Snider sold 1,105 shares of LGI Homes stock in a transaction on Monday, March 10th. The shares were sold at an average price of $75.94, for a total transaction of $83,913.70. Following the transaction, the chief operating officer now directly owns 27,102 shares of the company’s stock, valued at $2,058,125.88. This trade represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On LGI Homes

Several institutional investors have recently modified their holdings of the business. Summit Investment Advisors Inc. grew its stake 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 acquiring an additional 141 shares in the last quarter. Mariner LLC grew its stake in LGI Homes by 3.2% in the fourth quarter. Mariner LLC now owns 4,581 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 143 shares in the last quarter. Blue Trust Inc. increased its position in shares of LGI Homes by 112.9% during the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 184 shares during the last quarter. Stifel Financial Corp raised its stake in shares of LGI Homes by 5.7% during the 3rd quarter. Stifel Financial Corp now owns 3,883 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 211 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of 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 buying an additional 212 shares during the last quarter. 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.