LGI Homes (NASDAQ:LGIH) Shares Break Above Fifty Day Moving Average – What’s Next?

LGI Homes, Inc. (NASDAQ:LGIH)’s stock price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $47.90 and traded as high as $50.13. LGI Homes shares last traded at $48.90, with a volume of 807,788 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LGIH shares. Weiss Ratings lowered LGI Homes from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, September 21st. Citigroup restated a “market outperform” rating on shares of LGI Homes in a report on Tuesday, October 6th. Finally, Wall Street Zen upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, LGI Homes presently has an average rating of “Hold” and an average target price of $68.00.

LGI Homes Price Performance

The stock has a market cap of $1.14 billion, a P/E ratio of 16.03 and a beta of 1.88. The business has a 50 day simple moving average of $47.90 and a 200-day simple moving average of $50.20. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.61 and a current ratio of 15.63.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.33. The company had revenue of $444.46 million during the quarter, compared to analyst estimates of $438.21 million. LGI Homes had a net margin of 4.05% and a return on equity of 3.75%. LGI Homes’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS.

Institutional Investors Weigh In On LGI Homes

Institutional investors have recently made changes to their positions in the stock. Compass Wealth Management LLC bought a new position in LGI Homes in the 3rd quarter worth about $33,000. Rockefeller Capital Management L.P. grew its position in shares of LGI Homes by 1,759.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 827 shares in the last quarter. Allworth Financial LP bought a new position in LGI Homes in the 2nd quarter worth about $56,000. Public Employees Retirement System of Ohio bought a new position in shares of LGI Homes in the 2nd quarter worth $93,000. Finally, Integrated Wealth Concepts LLC bought a new position in LGI Homes in the second quarter valued at $111,000. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc is a homebuilder that designs, constructs and sells single-family homes in planned residential communities across the United States. The company primarily serves entry-level and first-time homebuyers, while also offering homes for move-up buyers and active-adult customers. Its communities typically feature standardized home designs, modern amenities and financing-related support intended to simplify the homebuying process.

Founded in 2003, LGI Homes has expanded from its original Texas operations into numerous housing markets throughout the South, Southwest and other high-growth regions.