LGI Homes (NASDAQ:LGIH) Trading Up 7.7% on Analyst Upgrade

by · The Markets Daily

LGI Homes, Inc. (NASDAQ:LGIH – Get Free Report)’s stock price rose 7.7% during mid-day trading on Thursday after Citizens Jmp raised their price target on the stock from $85.00 to $95.00. Citizens Jmp currently has a market outperform rating on the stock. LGI Homes traded as high as $46.25 and last traded at $46.4650. Approximately 132,653 shares traded hands during trading, a decline of 67% from the average daily volume of 401,743 shares. The stock had previously closed at $43.15.

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

Read Our Latest Report on LGI Homes

Institutional Investors Weigh In On LGI Homes

Several institutional investors and hedge funds have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its stake in shares of 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 purchasing an additional 435 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings 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 valued at $28,000 after buying an additional 237 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of LGI Homes by 106.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after buying an additional 305 shares during the period. Signaturefd LLC increased its stake in shares of LGI Homes by 284.4% in the 2nd quarter. Signaturefd LLC now owns 815 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 603 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of LGI Homes by 35.1% during the third quarter. Versant Capital Management Inc now owns 947 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 246 shares during the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Stock Up 8.7%

The company has a quick ratio of 0.58, a current ratio of 18.02 and a debt-to-equity ratio of 0.84. The company’s fifty day moving average price is $46.57 and its 200-day moving average price is $52.20. The stock has a market capitalization of $1.08 billion, a PE ratio of 10.34 and a beta of 1.88.

LGI Homes (NASDAQ:LGIH – Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.09). LGI Homes had a net margin of 5.93% and a return on equity of 5.50%. The company had revenue of $396.63 million for the quarter, compared to the consensus estimate of $421.66 million. Analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

About LGI Homes

(Get Free Report)

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.

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