LGI Homes (NASDAQ:LGIH) Stock Price Up 2.4%

LGI Homes, Inc. (NASDAQ:LGIHGet Rating)’s share price traded up 2.4% on Friday . The company traded as high as $86.76 and last traded at $86.43. 9,137 shares were traded during mid-day trading, a decline of 95% from the average session volume of 199,838 shares. The stock had previously closed at $84.39.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a report on Thursday, August 11th. JMP Securities lowered their price target on shares of LGI Homes from $175.00 to $140.00 and set a “market outperform” rating for the company in a report on Wednesday, August 3rd. Wells Fargo & Company lowered their price target on shares of LGI Homes from $108.00 to $90.00 and set an “equal weight” rating for the company in a report on Friday, June 17th. Finally, JPMorgan Chase & Co. lowered their price target on shares of LGI Homes from $85.00 to $77.00 and set an “underweight” rating for the company in a report on Tuesday, July 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $101.25.

LGI Homes Trading Up 2.5 %

The stock has a market capitalization of $2.01 billion, a P/E ratio of 5.08 and a beta of 1.60. The company has a debt-to-equity ratio of 0.76, a current ratio of 13.59 and a quick ratio of 0.68. The business’s 50 day simple moving average is $100.80 and its 200-day simple moving average is $99.19.

LGI Homes (NASDAQ:LGIHGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.73. LGI Homes had a net margin of 14.67% and a return on equity of 29.21%. The firm had revenue of $723.07 million for the quarter, compared to analysts’ expectations of $715.65 million. During the same period last year, the firm earned $4.71 earnings per share. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. As a group, analysts forecast that LGI Homes, Inc. will post 17.23 EPS for the current year.

Hedge Funds Weigh In On LGI Homes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Tennessee Treasury Department boosted its stake in LGI Homes by 1.3% in the first quarter. State of Tennessee Treasury Department now owns 10,612 shares of the financial services provider’s stock valued at $1,036,000 after acquiring an additional 132 shares during the last quarter. Brookstone Capital Management boosted its position in shares of LGI Homes by 3.8% during the first quarter. Brookstone Capital Management now owns 3,668 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 134 shares in the last quarter. CWM LLC boosted its position in shares of LGI Homes by 22.9% during the first quarter. CWM LLC now owns 752 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 140 shares in the last quarter. Truist Financial Corp boosted its position in shares of LGI Homes by 4.8% during the first quarter. Truist Financial Corp now owns 3,171 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 144 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in shares of LGI Homes by 0.8% during the first quarter. Great West Life Assurance Co. Can now owns 18,571 shares of the financial services provider’s stock worth $1,859,000 after purchasing an additional 151 shares in the last quarter. 90.47% of the stock is owned by institutional investors.

LGI Homes Company Profile

(Get Rating)

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 companies looking to acquire single-family rental properties.

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