LGI Homes (NASDAQ:LGIH) Share Price Passes Below 50-Day Moving Average - Here's What Happened

LGI Homes, Inc. (NASDAQ:LGIH - Get Free Report)'s share price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $101.07 and traded as low as $86.38. LGI Homes shares last traded at $86.89, with a volume of 189,542 shares traded.

Wall Street Analyst Weigh In

LGIH has been the subject of a number of analyst reports. Wedbush reissued 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. JPMorgan Chase & Co. lowered their price target on LGI Homes from $100.00 to $82.00 and set an "underweight" rating for the company in a report on Friday, December 13th.

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 stock has a 50 day simple moving average of $100.72 and a two-hundred day simple moving average of $103.84. The company has a market cap of $1.99 billion, a PE ratio of 10.15 and a beta of 2.02.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $645.27 million. During the same quarter in the previous year, the business earned $2.84 earnings per share. The firm's revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts predict that LGI Homes, Inc. will post 8.72 EPS for the current year.

Institutional Investors Weigh In On LGI Homes

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in shares of LGI Homes by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,506,611 shares of the financial services provider's stock worth $134,827,000 after buying an additional 53,031 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of LGI Homes by 3.7% during the 3rd 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 last quarter. River Road Asset Management LLC raised its stake in shares of LGI Homes by 45.9% during the 3rd quarter. River Road Asset Management LLC now owns 695,455 shares of the financial services provider's stock worth $82,425,000 after buying an additional 218,923 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of LGI Homes by 1.5% during the 3rd 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 last quarter. Finally, Altshuler Shaham Ltd raised its stake in shares of LGI Homes by 5,860.2% during the 2nd quarter. Altshuler Shaham Ltd now owns 454,760 shares of the financial services provider's stock worth $40,696,000 after buying an additional 447,130 shares during the last quarter. Hedge funds and other institutional investors 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.