LGI Homes, Inc. (NASDAQ:LGIH - Get Free Report) shares were down 5.5% during trading on Tuesday following a dissappointing earnings announcement. The company traded as low as $56.97 and last traded at $55.98. Approximately 26,661 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 237,211 shares. The stock had previously closed at $59.25.
The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.29). The business had revenue of $351.42 million for the quarter, compared to analyst estimates of $380.07 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company's revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on LGIH. Wedbush reaffirmed a "neutral" rating and issued a $115.00 price target (down from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. JMP Securities restated a "market outperform" rating and issued a $140.00 target price on shares of LGI Homes in a research report on Wednesday. Seaport Res Ptn raised LGI Homes from a "strong sell" rating to a "hold" rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. dropped their price objective on LGI Homes from $82.00 to $80.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 14th.
Read Our Latest Analysis on LGI Homes
Insider Buying and Selling
In other news, COO Michael Larry Snider sold 1,105 shares of the 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 sale, the chief operating officer now owns 27,102 shares in the company, valued at approximately $2,058,125.88. This represents a 3.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.30% of the stock is currently owned by insiders.
Institutional Investors Weigh In On LGI Homes
Several hedge funds have recently modified their holdings of the stock. River Road Asset Management LLC lifted its stake in LGI Homes by 30.6% during the fourth quarter. River Road Asset Management LLC now owns 907,923 shares of the financial services provider's stock valued at $81,168,000 after buying an additional 212,468 shares in the last quarter. Khrom Capital Management LLC lifted its position in shares of LGI Homes by 19.4% in the 4th quarter. Khrom Capital Management LLC now owns 1,095,801 shares of the financial services provider's stock valued at $97,965,000 after acquiring an additional 177,698 shares in the last quarter. Raymond James Financial Inc. acquired a new position in LGI Homes in the 4th quarter worth approximately $15,507,000. JPMorgan Chase & Co. raised its position in LGI Homes by 131.4% during the third quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider's stock valued at $13,222,000 after buying an additional 63,346 shares during the period. Finally, GAMMA Investing LLC lifted its stake in LGI Homes by 21,108.3% in the 1st quarter. GAMMA Investing LLC now owns 58,959 shares of the financial services provider's stock worth $3,919,000 after acquiring an additional 58,681 shares in the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.
LGI Homes Trading Up 3.6 %
The company has a market cap of $1.29 billion, a PE ratio of 6.61 and a beta of 1.93. 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 company has a 50 day simple moving average of $65.00 and a two-hundred day simple moving average of $85.30.
About LGI Homes
(
Get Free Report)
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.
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