LGI Homes Inc. (LGIH) Shares Up 3%
LGI Homes Inc. (NASDAQ:LGIH)’s share price shot up 3% during mid-day trading on Wednesday . The stock traded as high as $33.46 and last traded at $33.16, with a volume of 261,374 shares changing hands. The stock had previously closed at $32.20.
Several brokerages have recently issued reports on LGIH. Deutsche Bank AG reiterated a “buy” rating and issued a $36.00 price target on shares of LGI Homes in a research note on Tuesday, March 22nd. Zacks Investment Research upgraded LGI Homes from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, March 23rd. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $34.70.
The stock has a market cap of $678.65 million and a PE ratio of 12.22. The firm has a 50-day moving average of $28.60 and a 200-day moving average of $25.12.
LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, May 10th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. The firm had revenue of $162.50 million for the quarter, compared to analysts’ expectations of $167.55 million. The firm’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. Equities analysts expect that LGI Homes Inc. will post $3.31 EPS for the current year.
In related news, major shareholder Eric Thomas Lipar sold 10,000 shares of LGI Homes stock in a transaction on Wednesday, June 22nd. The shares were sold at an average price of $29.96, for a total transaction of $299,600.00. Following the transaction, the insider now owns 491,433 shares in the company, valued at approximately $14,723,332.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Alpine Woods Capital Investors LLC boosted its position in LGI Homes by 69.9% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 296,207 shares of the company’s stock worth $7,207,000 after buying an additional 121,900 shares during the period. State of New Jersey Common Pension Fund D boosted its position in LGI Homes by 4.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 231,000 shares of the company’s stock worth $5,621,000 after buying an additional 10,000 shares during the period. Hodges Capital Management Inc. boosted its position in LGI Homes by 32.9% in the fourth quarter. Hodges Capital Management Inc. now owns 112,450 shares of the company’s stock worth $2,736,000 after buying an additional 27,850 shares during the period. Trexquant Investment LP purchased a new position in LGI Homes during the fourth quarter worth $1,723,000. Finally, Redwood Investments LLC boosted its position in LGI Homes by 67.6% in the fourth quarter. Redwood Investments LLC now owns 65,270 shares of the company’s stock worth $1,588,000 after buying an additional 26,330 shares during the period.
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, Colorado, Washington and Tennessee. The Company has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.