Shares of LGI Homes Inc (NASDAQ:LGIH) shot up 8.2% during trading on Wednesday . The company traded as high as $52.80 and last traded at $53.33, 25,892 shares changed hands during trading. A decline of 96% from the average session volume of 676,550 shares. The stock had previously closed at $49.27.
A number of equities analysts recently weighed in on LGIH shares. ValuEngine upgraded shares of LGI Homes from a “strong sell” rating to a “sell” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered shares of LGI Homes from a “neutral” rating to an “underweight” rating and set a $39.00 target price on the stock. in a report on Wednesday, March 18th. BidaskClub lowered shares of LGI Homes from a “buy” rating to a “hold” rating in a report on Wednesday, March 18th. Wells Fargo & Co upped their price objective on shares of LGI Homes from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Finally, BTIG Research reaffirmed a “sell” rating and set a $68.00 target price on shares of LGI Homes in a research note on Monday, February 24th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. LGI Homes currently has an average rating of “Hold” and a consensus price target of $70.60.
The firm’s 50 day moving average is $75.62 and its two-hundred day moving average is $76.93. The stock has a market capitalization of $1.35 billion, a PE ratio of 7.31 and a beta of 0.40. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 12.55.
LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, February 25th. The financial services provider reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.18. LGI Homes had a net margin of 9.72% and a return on equity of 23.62%. The firm had revenue of $605.60 million for the quarter, compared to the consensus estimate of $559.73 million. During the same period in the prior year, the firm earned $1.72 EPS. The firm’s revenue for the quarter was up 42.4% on a year-over-year basis. On average, analysts anticipate that LGI Homes Inc will post 8.16 EPS for the current year.
Several large investors have recently made changes to their positions in LGIH. Millennium Management LLC increased its position in shares of LGI Homes by 216.2% in the 3rd quarter. Millennium Management LLC now owns 456,511 shares of the financial services provider’s stock valued at $38,036,000 after purchasing an additional 312,154 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of LGI Homes by 3,365.7% in the 3rd quarter. Voya Investment Management LLC now owns 269,806 shares of the financial services provider’s stock valued at $22,480,000 after buying an additional 262,021 shares in the last quarter. Altshuler Shaham Ltd boosted its holdings in shares of LGI Homes by 19.0% in the 4th quarter. Altshuler Shaham Ltd now owns 1,093,844 shares of the financial services provider’s stock valued at $77,280,000 after buying an additional 174,977 shares in the last quarter. Norges Bank acquired a new position in shares of LGI Homes in the 4th quarter valued at $9,051,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of LGI Homes by 12,666.2% in the 4th quarter. Victory Capital Management Inc. now owns 120,002 shares of the financial services provider’s stock valued at $9,569,000 after buying an additional 119,062 shares in the last quarter. 84.22% of the stock is currently owned by institutional investors.
About LGI Homes (NASDAQ:LGIH)
LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.
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