LGI Homes (NASDAQ:LGIH) Hits New 52-Week Low - Time to Sell?

LGI Homes, Inc. (NASDAQ:LGIH - Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $81.35 and last traded at $81.88, with a volume of 7531 shares trading hands. The stock had previously closed at $84.08.

Analyst Ratings Changes

Several brokerages have recently weighed in on LGIH. Seaport Res Ptn upgraded LGI Homes from a "strong sell" rating to a "hold" rating in a research report on Monday, January 27th. Wedbush restated a "neutral" rating and set a $115.00 target price (down from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their target price on LGI Homes from $82.00 to $80.00 and set an "underweight" rating for the company in a research report on Tuesday, January 14th. Finally, JMP Securities restated a "market outperform" rating and set a $160.00 target price on shares of LGI Homes in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $118.33.

LGI Homes Stock Performance

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 company has a 50 day simple moving average of $88.83 and a 200-day simple moving average of $101.42. The stock has a market cap of $1.83 billion, a P/E ratio of 9.33 and a beta of 2.03.

Institutional Investors Weigh In On LGI Homes

Several hedge funds have recently added to or reduced their stakes in LGIH. River Road Asset Management LLC lifted its stake in LGI Homes by 45.9% during the third quarter. River Road Asset Management LLC now owns 695,455 shares of the financial services provider's stock worth $82,425,000 after purchasing an additional 218,923 shares during the last quarter. Khrom Capital Management LLC lifted its stake in LGI Homes by 19.4% during the fourth quarter. Khrom Capital Management LLC now owns 1,095,801 shares of the financial services provider's stock worth $97,965,000 after purchasing an additional 177,698 shares during the last quarter. Raymond James Financial Inc. bought a new stake in LGI Homes during the fourth quarter worth about $15,507,000. Holocene Advisors LP lifted its stake in LGI Homes by 386.2% during the third quarter. Holocene Advisors LP now owns 130,968 shares of the financial services provider's stock worth $15,522,000 after purchasing an additional 104,030 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in 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 during the last quarter. 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.