LGI Homes Inc (NASDAQ:LGIH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Analyst Ratings Network.com reports.

According to Zacks, “LGI Homes, Inc. is engaged in the design and construction of entry-level homes across Texas, Arizona, Florida and Georgia. The company focuses on converting renters of apartments and single-family homes into homeowners by offering homes at affordable locations. LGI Homes, Inc. is headquartered in The Woodlands, Texas. “

A number of other brokerages have also issued reports on LGIH. Deutsche Bank boosted their price target on LGI Homes from $21.00 to $36.00 in a research report on Tuesday, November 3rd. Sidoti assumed coverage on LGI Homes in a research note on Tuesday, December 29th. They issued a “buy” rating and a $46.00 price objective on the stock. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of LGI Homes in a research note on Thursday, January 14th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $34.10.

In other news, major shareholder Thomas E. Lipar sold 50,000 shares of LGI Homes stock in a transaction on Monday, November 23rd. The stock was sold at an average price of $31.75, for a total transaction of $1,587,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Bryan Christopher Sansbury sold 1,500 shares of LGI Homes stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $29.95, for a total value of $44,925.00. Following the transaction, the director now owns 178,565 shares in the company, valued at approximately $5,348,021.75. The disclosure for this sale can be found here.

Shares of LGI Homes (NASDAQ:LGIH) traded up 0.83% during mid-day trading on Wednesday, reaching $21.81. The company’s stock had a trading volume of 203,096 shares. The company has a market capitalization of $436.37 million and a PE ratio of 10.61. The firm’s 50 day moving average is $23.25 and its 200-day moving average is $26.25. LGI Homes has a 52-week low of $12.84 and a 52-week high of $36.07.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.16. The business had revenue of $174 million for the quarter, compared to analyst estimates of $169.90 million. The company’s revenue was up 88.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. Analysts forecast that LGI Homes will post $2.44 EPS for the current year.

Several hedge funds and institutional investors have modified their holdings of the stock. Simplex Trading acquired a new position in shares of LGI Homes during the fourth quarter worth $298,000. First American Bank acquired a new position in shares of LGI Homes during the fourth quarter worth $347,000. Finally, Shaker Investments LLC OH increased its position in shares of LGI Homes by 480.7% in the fourth quarter. Shaker Investments LLC OH now owns 81,350 shares of the company’s stock worth $1,979,000 after buying an additional 67,340 shares in the last quarter.

LGI Homes, Inc. is a homebuilder. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina and Colorado. The Company’s product offerings include entry-level homes sold under its LGI Homes brand, and its move-up homes, which are sold under Terrata Homes brand. Terrata Homes brand delivers move-in ready homes. It manages its homebuilding operations under four segments: Texas division, Southwest division, Southeast division and Florida division. Its Texas division includes Houston, Dallas/Ft. Worth, San Antonio and Austin operations; Southwest division includes Phoenix, Tucson, Albuquerque and Denver operations; Southeast division includes Atlanta and Charlotte operations, and Florida division includes Tampa, Orlando and Fort Myers operations. It has constructed and closed approximately 8,500 homes. It has a total of around 453 completed homes and 578 homes in progress.

12 Month Chart for NASDAQ:LGIH

Get a free copy of the Zacks research report on LGI Homes (LGIH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for LGI Homes Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGI Homes Inc and related companies with MarketBeat.com's FREE daily email newsletter.