LGI Homes (NASDAQ:LGIH) Hits New 1-Year Low – Here’s What Happened

Shares of LGI Homes, Inc. (NASDAQ:LGIH) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $81.71 and last traded at $83.01, with a volume of 275938 shares changing hands. The stock had previously closed at $85.69.

Wall Street Analysts Forecast Growth

LGIH has been the subject of several recent research reports. Seaport Res Ptn upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 27th. JMP Securities reiterated a “market outperform” rating and issued a $160.00 price target on shares of LGI Homes in a research note on Friday, January 10th. JPMorgan Chase & Co. dropped their price objective on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Finally, Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective (down from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $118.33.

LGI Homes Stock Performance

The firm has a 50 day moving average of $91.48 and a two-hundred day moving average of $102.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The stock has a market cap of $1.95 billion, a PE ratio of 9.95 and a beta of 2.03.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LGIH. Blue Trust Inc. raised its stake in LGI Homes by 112.9% during the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 184 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of LGI Homes during the third quarter worth about $43,000. KBC Group NV increased its position in shares of LGI Homes by 29.8% during the third quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 168 shares in the last quarter. CWM LLC lifted its holdings in shares of LGI Homes by 27.5% in the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 187 shares during the last quarter. Finally, Heritage Family Offices LLP acquired a new stake in shares of LGI Homes in the 3rd quarter valued at about $218,000. Institutional investors and hedge funds own 84.89% of the company’s stock.

LGI Homes Company Profile

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.