LGI Homes (LGIH) Cut to “Neutral” at Wedbush

Wedbush downgraded shares of LGI Homes (NASDAQ:LGIH) from an outperform rating to a neutral rating in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has $73.00 price objective on the financial services provider’s stock. Wedbush also issued estimates for LGI Homes’ Q1 2018 earnings at $0.82 EPS, Q2 2018 earnings at $1.71 EPS, Q3 2018 earnings at $1.79 EPS, Q4 2018 earnings at $2.02 EPS, FY2018 earnings at $6.34 EPS, Q1 2019 earnings at $0.73 EPS, Q2 2019 earnings at $1.88 EPS, Q3 2019 earnings at $2.06 EPS, Q4 2019 earnings at $2.25 EPS and FY2019 earnings at $6.93 EPS.

A number of other research firms have also recently commented on LGIH. BidaskClub upgraded shares of LGI Homes from a buy rating to a strong-buy rating in a report on Friday, March 23rd. Zacks Investment Research upgraded shares of LGI Homes from a hold rating to a strong-buy rating and set a $91.00 price target on the stock in a report on Thursday, January 4th. Finally, ValuEngine upgraded shares of LGI Homes from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $61.50.

Shares of LGIH opened at $69.74 on Tuesday. The stock has a market capitalization of $1,578.22, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 1.04 and a beta of 0.13. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.16 and a current ratio of 9.16. LGI Homes has a fifty-two week low of $28.57 and a fifty-two week high of $79.55.



LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.03. The business had revenue of $405.00 million for the quarter, compared to analysts’ expectations of $377.46 million. LGI Homes had a net margin of 9.01% and a return on equity of 26.41%. The business’s revenue was up 71.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. equities analysts predict that LGI Homes will post 6.16 earnings per share for the current year.

In related news, CEO Eric Thomas Lipar sold 25,000 shares of the stock in a transaction that occurred on Friday, April 6th. The shares were sold at an average price of $73.29, for a total transaction of $1,832,250.00. Following the transaction, the chief executive officer now owns 522,020 shares in the company, valued at $38,258,845.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ryan Edone acquired 1,400 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were bought at an average price of $56.36 per share, for a total transaction of $78,904.00. Following the transaction, the director now owns 22,982 shares of the company’s stock, valued at $1,295,265.52. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 139,432 shares of company stock worth $9,338,762. Corporate insiders own 13.60% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Advisor Group Inc. lifted its position in LGI Homes by 384.7% during the fourth quarter. Advisor Group Inc. now owns 1,454 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 1,154 shares during the period. Meadow Creek Investment Management LLC bought a new position in LGI Homes during the fourth quarter valued at approximately $172,000. Midas Management Corp bought a new position in LGI Homes during the fourth quarter valued at approximately $191,000. CAPROCK Group Inc. bought a new position in LGI Homes during the fourth quarter valued at approximately $217,000. Finally, SG Americas Securities LLC bought a new position in LGI Homes during the third quarter valued at approximately $199,000. Institutional investors own 84.82% of the company’s stock.

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LGI Homes Company Profile

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.

Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

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