LGI Homes (NASDAQ:LGIH) Hits New 52-Week Low – What’s Next?

Shares of LGI Homes, Inc. (NASDAQ:LGIH) hit a new 52-week low during trading on Wednesday . The company traded as low as $82.99 and last traded at $83.16, with a volume of 7758 shares. The stock had previously closed at $84.65.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on LGI Homes from $100.00 to $82.00 and set an “underweight” rating for the company in a research note on Friday, December 13th. Wedbush restated a “neutral” rating and set a $115.00 price objective (down from $125.00) on shares of LGI Homes in a report on Tuesday.

LGI Homes Stock Performance

The company’s fifty day simple moving average is $100.40 and its two-hundred day simple moving average is $103.72. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 10.30 and a beta of 2.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72.

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

Hedge Funds Weigh In On LGI Homes

A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in shares of LGI Homes by 131.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock worth $13,222,000 after purchasing an additional 63,346 shares during the period. Sanctuary Advisors LLC bought a new position in LGI Homes during the 3rd quarter worth $334,000. Geode Capital Management LLC increased its position in LGI Homes by 1.5% in the third quarter. Geode Capital Management LLC now owns 497,039 shares of the financial services provider’s stock worth $58,920,000 after buying an additional 7,129 shares during the period. Disciplined Growth Investors Inc. MN increased its position in LGI Homes by 3.7% in the third quarter. Disciplined Growth Investors Inc. MN now owns 939,504 shares of the financial services provider’s stock worth $111,350,000 after buying an additional 33,306 shares during the period. Finally, Covalent Partners LLC bought a new stake in LGI Homes in the third quarter valued at $2,655,000. Institutional investors own 84.89% of the company’s stock.

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.