LGI Homes (NASDAQ:LGIH) Shares Gap Up After Analyst Upgrade

LGI Homes, Inc. (NASDAQ:LGIH)’s stock price gapped up prior to trading on Wednesday after Citizens Jmp raised their price target on the stock from $85.00 to $95.00. The stock had previously closed at $43.86, but opened at $46.98. Citizens Jmp currently has a market outperform rating on the stock. LGI Homes shares last traded at $45.3660, with a volume of 98,727 shares changing hands.

A number of other analysts have also recently commented on the stock. Capital One Financial set a $60.00 price objective on shares of LGI Homes in a research report on Thursday, October 9th. JPMorgan Chase & Co. boosted their target price on LGI Homes from $47.00 to $48.50 and gave the company an “underweight” rating in a research note on Tuesday, October 14th. Weiss Ratings restated a “sell (d)” rating on shares of LGI Homes in a report on Monday, December 29th. Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a research report on Wednesday. Finally, Wedbush reiterated a “neutral” rating and issued a $95.00 price objective on shares of LGI Homes in a research report on Monday, October 6th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, LGI Homes has a consensus rating of “Hold” and a consensus price target of $76.70.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its position in LGI Homes by 453.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 531 shares of the financial services provider’s stock valued at $27,000 after buying an additional 435 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of LGI Homes by 75.5% during the 3rd 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 in the last quarter. Russell Investments Group Ltd. grew its stake in shares of 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 in the last quarter. Signaturefd LLC raised its holdings in shares of LGI Homes by 284.4% in the second quarter. Signaturefd LLC now owns 815 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 603 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of LGI Homes by 35.1% in the third quarter. Versant Capital Management Inc now owns 947 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 246 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors.

LGI Homes Price Performance

The company’s fifty day moving average is $46.56 and its 200 day moving average is $52.26. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 9.99 and a beta of 1.88. The company has a quick ratio of 0.58, a current ratio of 18.02 and a debt-to-equity ratio of 0.84.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.09). LGI Homes had a net margin of 5.93% and a return on equity of 5.50%. The business had revenue of $396.63 million during the quarter, compared to analyst estimates of $421.66 million. On average, equities research analysts predict that LGI Homes, Inc. will post 8.46 EPS for the current year.

About LGI Homes

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.