LGI Homes Inc. (LGIH) Shares Up 2.3%
LGI Homes Inc. (NASDAQ:LGIH)’s share price shot up 2.3% on Thursday . The stock traded as high as $35.85 and last traded at $35.58, with a volume of 170,554 shares changing hands. The stock had previously closed at $34.79.
Several research firms recently weighed in on LGIH. JMP Securities reiterated a “buy” rating on shares of LGI Homes in a research report on Saturday, July 9th. Zacks Investment Research downgraded LGI Homes from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. LGI Homes currently has an average rating of “Buy” and an average target price of $35.88.
The firm has a market cap of $749.26 million and a price-to-earnings ratio of 11.77. The company’s 50 day moving average price is $34.19 and its 200-day moving average price is $28.10.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. During the same period in the previous year, the company posted $0.66 earnings per share. The business had revenue of $222.72 million for the quarter, compared to analyst estimates of $219.52 million. The business’s revenue for the quarter was up 40.2% on a year-over-year basis. Equities analysts predict that LGI Homes Inc. will post $3.40 EPS for the current year.
In other news, major shareholder Eric Thomas Lipar sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $29.96, for a total transaction of $299,600.00. Following the transaction, the insider now directly owns 491,433 shares of the company’s stock, valued at $14,723,332.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Several institutional investors have recently added to or reduced their stakes in LGIH. Dimensional Fund Advisors LP increased its position in LGI Homes by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 51,456 shares of the company’s stock valued at $1,252,000 after buying an additional 1,400 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in LGI Homes by 3.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 49,550 shares of the company’s stock valued at $1,206,000 after buying an additional 1,827 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased 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 valued at $5,621,000 after buying an additional 10,000 shares during 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, 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.
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