LGI Homes (NASDAQ:LGIH) Trading Up 7% – Here’s What Happened

LGI Homes, Inc. (NASDAQ:LGIH)’s share price was up 7% on Tuesday . The stock traded as high as $54.42 and last traded at $54.1150. Approximately 45,341 shares changed hands during trading, a decline of 90% from the average daily volume of 449,875 shares. The stock had previously closed at $50.59.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LGIH shares. Wall Street Zen upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Zacks Research upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Weiss Ratings restated a “sell (d)” rating on shares of LGI Homes in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of LGI Homes from $38.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, LGI Homes currently has an average rating of “Hold” and a consensus target price of $72.75.

LGI Homes Price Performance

The company has a quick ratio of 0.70, a current ratio of 18.56 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $1.29 billion, a P/E ratio of 18.09 and a beta of 1.87. The stock has a fifty day moving average of $44.79 and a 200-day moving average of $47.30.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.22. The firm had revenue of $319.74 million during the quarter, compared to analysts’ expectations of $328.22 million. LGI Homes had a net margin of 4.22% and a return on equity of 3.80%. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. Equities analysts predict that LGI Homes, Inc. will post 2.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LGIH. Caitong International Asset Management Co. Ltd raised its holdings in shares of LGI Homes by 75.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 237 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of LGI Homes during the fourth quarter worth $29,000. Russell Investments Group Ltd. boosted its position in LGI Homes by 106.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 305 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in LGI Homes during the 4th quarter worth approximately $32,000. Finally, Rockefeller Capital Management L.P. boosted its position in LGI Homes by 1,759.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 827 shares during the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.

LGI Homes Company Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.