LGI Homes (NASDAQ:LGIH) Hits New 12-Month Low - Here's What Happened

LGI Homes, Inc. (NASDAQ:LGIH - Get Free Report)'s share price 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. The stock had previously closed at $85.69.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LGIH shares. JMP Securities reaffirmed a "market outperform" rating and set a $160.00 target price on shares of LGI Homes in a report on Friday, January 10th. JPMorgan Chase & Co. dropped their target price on shares of LGI Homes from $82.00 to $80.00 and set an "underweight" rating for the company in a report on Tuesday, January 14th. Seaport Res Ptn raised shares of LGI Homes from a "strong sell" rating to a "hold" rating in a report on Monday, January 27th. Finally, Wedbush reissued a "neutral" rating and issued a $115.00 price objective (down previously from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $118.33.

LGI Homes Price Performance

The stock's 50-day simple moving average is $90.66 and its 200 day simple moving average is $102.15. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 10.21 and a beta of 2.03.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in shares of LGI Homes by 131.4% during the third 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 in the last quarter. Citigroup Inc. lifted its position in shares of LGI Homes by 60.9% during the third quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider's stock worth $4,954,000 after purchasing an additional 15,818 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of LGI Homes by 5.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,232 shares of the financial services provider's stock worth $383,000 after purchasing an additional 176 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of LGI Homes during the third quarter worth about $334,000. Finally, Creative Planning acquired a new stake in shares of LGI Homes during the third quarter worth about $375,000. Institutional investors and hedge funds 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.