LGI Homes Inc (NASDAQ:LGIH) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $72.89 and last traded at $70.75, with a volume of 471057 shares. The stock had previously closed at $69.29.
Several research firms have issued reports on LGIH. ValuEngine upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Zacks Investment Research upgraded shares of LGI Homes from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Wednesday, May 1st. Wells Fargo & Co lifted their price target on shares of LGI Homes from $58.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 27th. BidaskClub upgraded shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 9th. Finally, JMP Securities lifted their price target on shares of LGI Homes from $65.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Wednesday, February 27th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $69.90.
The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.35 and a current ratio of 16.86. The stock has a market capitalization of $1.59 billion, a PE ratio of 11.14, a P/E/G ratio of 0.94 and a beta of 0.61.
LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.13). The business had revenue of $287.60 million during the quarter, compared to analyst estimates of $288.06 million. LGI Homes had a return on equity of 23.28% and a net margin of 9.67%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.10 EPS. As a group, research analysts forecast that LGI Homes Inc will post 6.7 earnings per share for the current fiscal year.
In related news, insider Michael Larry Snider sold 13,170 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $68.11, for a total value of $897,008.70. Following the completion of the transaction, the insider now owns 175,544 shares of the company’s stock, valued at approximately $11,956,301.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jack Anthony Lipar sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $57.20, for a total transaction of $297,440.00. Following the completion of the transaction, the vice president now directly owns 80,327 shares of the company’s stock, valued at approximately $4,594,704.40. The disclosure for this sale can be found here. Insiders sold a total of 123,611 shares of company stock valued at $7,219,212 in the last ninety days. Company insiders own 13.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in LGI Homes in the 1st quarter worth approximately $443,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in LGI Homes by 23.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 30,031 shares of the financial services provider’s stock worth $1,809,000 after purchasing an additional 5,700 shares during the period. Level Four Advisory Services LLC boosted its stake in LGI Homes by 10.4% in the 1st quarter. Level Four Advisory Services LLC now owns 14,657 shares of the financial services provider’s stock worth $883,000 after purchasing an additional 1,375 shares during the period. Altshuler Shaham Ltd boosted its stake in LGI Homes by 1.2% in the 1st quarter. Altshuler Shaham Ltd now owns 865,499 shares of the financial services provider’s stock worth $52,137,000 after purchasing an additional 10,032 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in LGI Homes in the 1st quarter worth approximately $524,000. 93.81% of the stock is owned by hedge funds and other institutional investors.
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LGI Homes Company Profile (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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