LGI Homes (NASDAQ:LGIH) Issues Quarterly Earnings Results

LGI Homes (NASDAQ:LGIH) posted its earnings results on Tuesday. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.09), Zacks reports. LGI Homes had a net margin of 7.63% and a return on equity of 8.00%. The company had revenue of $396.63 million during the quarter, compared to analysts’ expectations of $421.66 million.

LGI Homes Stock Performance

NASDAQ LGIH traded up $1.76 during trading hours on Tuesday, reaching $42.49. The stock had a trading volume of 169,320 shares, compared to its average volume of 345,061. The stock has a fifty day moving average of $52.96 and a 200 day moving average of $54.41. The stock has a market cap of $979.69 million, a P/E ratio of 6.42 and a beta of 1.77. LGI Homes has a 52-week low of $39.70 and a 52-week high of $114.56. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 18.18.

Wall Street Analyst Weigh In

LGIH has been the topic of a number of research analyst reports. Capital One Financial set a $60.00 price target on LGI Homes in a research note on Thursday, October 9th. JPMorgan Chase & Co. boosted their price target on LGI Homes from $47.00 to $48.50 and gave the stock an “underweight” rating in a research note on Tuesday, October 14th. JMP Securities boosted their price target on LGI Homes from $75.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 27th. Citigroup restated a “market outperform” rating on shares of LGI Homes in a research note on Wednesday, August 27th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of LGI Homes in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.13.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Wasatch Advisors LP lifted its holdings in LGI Homes by 3.4% in the second quarter. Wasatch Advisors LP now owns 1,467,855 shares of the financial services provider’s stock valued at $75,624,000 after acquiring an additional 48,795 shares during the period. Goldman Sachs Group Inc. lifted its holdings in LGI Homes by 5.3% in the first quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock valued at $16,627,000 after acquiring an additional 12,524 shares during the period. Raymond James Financial Inc. lifted its holdings in LGI Homes by 1.9% in the second quarter. Raymond James Financial Inc. now owns 138,506 shares of the financial services provider’s stock valued at $7,136,000 after acquiring an additional 2,574 shares during the period. Invesco Ltd. lifted its holdings in LGI Homes by 19.0% in the second quarter. Invesco Ltd. now owns 85,400 shares of the financial services provider’s stock valued at $4,400,000 after acquiring an additional 13,611 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in LGI Homes by 6.9% in the second quarter. Public Sector Pension Investment Board now owns 70,193 shares of the financial services provider’s stock valued at $3,616,000 after acquiring an additional 4,544 shares during the period. 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.