LGI Homes (LGIH) Downgraded to Sell at ValuEngine

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LGI Homes (NASDAQ:LGIH) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Several other brokerages have also recently issued reports on LGIH. Zacks Investment Research cut shares of LGI Homes from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. Wedbush reduced their target price on shares of LGI Homes from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, August 8th. Finally, BidaskClub cut shares of LGI Homes from a “buy” rating to a “hold” rating in a report on Thursday, May 24th. Two investment 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. LGI Homes currently has an average rating of “Hold” and an average target price of $64.67.

Shares of LGI Homes stock opened at $52.99 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 15.32 and a quick ratio of 1.47. LGI Homes has a 1 year low of $42.10 and a 1 year high of $81.88. The firm has a market cap of $1.30 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 0.80 and a beta of 0.04.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, August 7th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.22. LGI Homes had a net margin of 9.81% and a return on equity of 28.50%. The firm had revenue of $419.85 million during the quarter, compared to analysts’ expectations of $414.52 million. equities analysts anticipate that LGI Homes will post 6.57 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of LGIH. Rhumbline Advisers raised its holdings in shares of LGI Homes by 2.9% during the first quarter. Rhumbline Advisers now owns 41,295 shares of the financial services provider’s stock worth $2,914,000 after purchasing an additional 1,176 shares during the last quarter. Comerica Bank increased its holdings in LGI Homes by 5.2% in the first quarter. Comerica Bank now owns 18,746 shares of the financial services provider’s stock valued at $1,335,000 after buying an additional 921 shares in the last quarter. Parametrica Management Ltd purchased a new position in LGI Homes in the first quarter valued at $211,000. Victory Capital Management Inc. increased its holdings in LGI Homes by 3,646.7% in the first quarter. Victory Capital Management Inc. now owns 121,730 shares of the financial services provider’s stock valued at $8,591,000 after buying an additional 118,481 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in LGI Homes by 4.4% in the first quarter. Prudential Financial Inc. now owns 29,530 shares of the financial services provider’s stock valued at $2,084,000 after buying an additional 1,250 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

About LGI Homes

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington, Tennessee, and Minnesota markets. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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