LGI Homes - LGIH Stock Forecast, Price & News

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 companies looking to acquire single-family rental properties. As of December 31, 2021, it owned 101 communities. The company serves customers in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, Nevada, West Virginia, Virginia, and Pennsylvania. LGI Homes, Inc. was founded in 2003 and is headquartered in The Woodlands, Texas.

LGI Homes Stock Down 0.4 %

Shares of NASDAQ:LGIH traded down $0.44 during midday trading on Friday, hitting $111.58. The stock had a trading volume of 2,212 shares, compared to its average volume of 242,857. The company has a quick ratio of 0.68, a current ratio of 13.59 and a debt-to-equity ratio of 0.76. The business's 50-day simple moving average is $96.58 and its 200-day simple moving average is $104.13. LGI Homes has a 12 month low of $71.73 and a 12 month high of $165.91. The company has a market cap of $2.60 billion, a P/E ratio of 6.58 and a beta of 1.57.

LGI Homes (NASDAQ:LGIH - Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The financial services provider reported $5.20 earnings per share for the quarter, beating the consensus estimate of $4.53 by $0.67. The company had revenue of $723.07 million for the quarter, compared to analyst estimates of $715.65 million. LGI Homes had a net margin of 14.67% and a return on equity of 29.21%. The company's revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $4.71 earnings per share. On average, sell-side analysts forecast that LGI Homes will post 18.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on LGIH shares. JMP Securities lowered their target price on LGI Homes from $175.00 to $140.00 and set a "market outperform" rating for the company in a report on Wednesday, August 3rd. BTIG Research upgraded LGI Homes from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 20th. StockNews.com downgraded shares of LGI Homes from a "hold" rating to a "sell" rating in a report on Thursday. Wells Fargo & Company reduced their target price on shares of LGI Homes from $108.00 to $90.00 and set an "equal weight" rating for the company in a report on Friday, June 17th. Finally, JPMorgan Chase & Co. lowered their price target on shares of LGI Homes from $85.00 to $77.00 and set an "underweight" rating on the stock in a research note on Tuesday, July 12th. Two 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 data from MarketBeat, LGI Homes currently has an average rating of "Hold" and a consensus price target of $101.25.

Insider Buying and Selling at LGI Homes

In other news, Director Ryan Edone bought 1,000 shares of the company's stock in a transaction dated Wednesday, June 15th. The stock was bought at an average price of $82.38 per share, with a total value of $82,380.00. Following the completion of the acquisition, the director now owns 26,778 shares of the company's stock, valued at $2,205,971.64. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 12.50% of the company's stock.