LGI Homes (NASDAQ:LGIH) Stock Jumps 5.8% – Time to Buy?

Shares of LGI Homes, Inc. (NASDAQ:LGIH) rose 5.8% during trading on Friday. The company traded as high as $45.10 and last traded at $44.8250. Approximately 16,381 shares traded hands during trading, a decline of 96% from the average daily volume of 400,605 shares. The stock had previously closed at $42.35.

Analysts Set New Price Targets

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

LGI Homes Stock Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.61 and a current ratio of 17.74. The stock has a market capitalization of $1.03 billion, a P/E ratio of 15.50 and a beta of 1.86. The business has a 50-day moving average price of $52.00 and a 200 day moving average price of $51.27.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. LGI Homes had a return on equity of 3.55% and a net margin of 3.88%. The company had revenue of $516.05 million during the quarter, compared to analyst estimates of $489.23 million. During the same quarter last year, the company earned $1.36 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis.

Institutional Investors Weigh In On LGI Homes

A number of institutional investors have recently modified their holdings of LGIH. Rockefeller Capital Management L.P. grew its stake in shares of LGI Homes by 1,759.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 827 shares during the last quarter. Allworth Financial LP purchased a new position in shares of LGI Homes in the 2nd quarter worth about $56,000. Public Employees Retirement System of Ohio purchased a new position in shares of LGI Homes in the 2nd quarter worth about $93,000. Integrated Wealth Concepts LLC purchased a new position in shares of LGI Homes in the 2nd quarter worth about $111,000. Finally, GAMMA Investing LLC boosted its stake in LGI Homes by 14.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,093 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 269 shares in the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Company Profile

LGI Homes, Inc is a residential construction company that designs, builds and sells new homes primarily to first-time buyers, move-up buyers and active-adult customers. Its portfolio generally includes single-family homes and, in select communities, townhomes and other attached housing. The company offers homes in a range of floor plans and typically emphasizes value-oriented designs, included features and move-in-ready construction.

Founded in 2003, LGI Homes serves buyers through communities across multiple regions of the United States, including markets in the South, Southeast, Southwest, West and select other metropolitan areas.