LGI Homes (NASDAQ:LGIH) Shares Gap Down – What’s Next?

LGI Homes, Inc. (NASDAQ:LGIH)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $93.58, but opened at $91.65. LGI Homes shares last traded at $94.35, with a volume of 58,053 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wedbush restated a “neutral” rating and issued a $125.00 price target on shares of LGI Homes in a report on Wednesday, November 6th. JPMorgan Chase & Co. lowered their price objective on shares of LGI Homes from $100.00 to $82.00 and set an “underweight” rating for the company in a research report on Friday, December 13th.

LGI Homes Stock Up 1.0 %

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 fifty day simple moving average of $105.95 and a two-hundred day simple moving average of $104.15. The firm has a market capitalization of $2.14 billion, a PE ratio of 10.94 and a beta of 1.99.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.41. The company had revenue of $651.85 million during the quarter, compared to analyst estimates of $645.27 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.84 earnings per share. Analysts forecast that LGI Homes, Inc. will post 8.72 EPS for the current fiscal year.

Hedge Funds Weigh In On LGI Homes

Institutional investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System raised its holdings in LGI Homes by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the financial services provider’s stock worth $922,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System grew its position in shares of LGI Homes by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 5,940 shares of the financial services provider’s stock worth $532,000 after buying an additional 112 shares during the last quarter. KBC Group NV grew its position in shares of LGI Homes by 29.8% in the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after buying an additional 168 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of LGI Homes by 5.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,232 shares of the financial services provider’s stock worth $383,000 after acquiring an additional 176 shares in the last quarter. Finally, US Bancorp DE lifted its position in LGI Homes by 6.7% during the third quarter. US Bancorp DE now owns 2,857 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 179 shares during the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.

About LGI Homes

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.