LGI Homes (NASDAQ:LGIH) Shares Up 5.2% – Here’s Why

LGI Homes, Inc. (NASDAQ:LGIH) was up 5.2% during mid-day trading on Monday . The stock traded as high as $97.25 and last traded at $95.13. Approximately 54,581 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 177,166 shares. The stock had previously closed at $90.39.

Analysts Set New Price Targets

A number of brokerages have issued reports on LGIH. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a research note on Friday, January 10th. JPMorgan Chase & Co. dropped their price target on LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Finally, Wedbush reaffirmed 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, January 7th.

LGI Homes Trading Up 4.9 %

The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average of $96.51 and a two-hundred day moving average of $103.97. The firm has a market cap of $2.23 billion, a P/E ratio of 11.37 and a beta of 2.02.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.41. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The business had revenue of $651.85 million during the quarter, compared to the consensus estimate of $645.27 million. During the same period in the previous year, the company posted $2.84 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts predict that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Hedge Funds Weigh In On LGI Homes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in LGI Homes by 112.9% during the fourth quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock worth $31,000 after buying an additional 184 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in LGI Homes during the third quarter worth about $43,000. KBC Group NV lifted its holdings in shares of LGI Homes by 29.8% in the third quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 168 shares during the last quarter. CWM LLC boosted its stake in shares of LGI Homes by 27.5% in the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 187 shares in the last quarter. Finally, Heritage Family Offices LLP bought a new stake in shares of LGI Homes during the 3rd quarter valued at approximately $218,000. 84.89% of the stock is owned by institutional investors and hedge funds.

About LGI Homes

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.