LGI Homes (NASDAQ:LGIH) Trading Up 8% – Here’s What Happened

LGI Homes, Inc. (NASDAQ:LGIH) shot up 8% on Wednesday . The company traded as high as $58.25 and last traded at $58.1760. 104,742 shares changed hands during trading, a decline of 73% from the average session volume of 384,516 shares. The stock had previously closed at $53.86.

Wall Street Analyst Weigh In

LGIH has been the topic of several recent research reports. Citizens Jmp upped their price target on LGI Homes from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 7th. JPMorgan Chase & Co. increased their target price on LGI Homes from $47.00 to $48.50 and gave the stock an “underweight” rating in a research note on Tuesday, October 14th. Weiss Ratings restated a “sell (d)” rating on shares of LGI Homes in a report on Monday, December 29th. Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a research report on Wednesday, January 7th. Finally, Capital One Financial set a $60.00 price objective on shares of LGI Homes in a research report on Thursday, October 9th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.70.

LGI Homes Stock Up 8.7%

The stock has a market cap of $1.35 billion, a PE ratio of 12.92 and a beta of 1.90. The company has a debt-to-equity ratio of 0.84, a current ratio of 18.02 and a quick ratio of 0.58. The company has a 50 day moving average price of $48.81 and a two-hundred day moving average price of $52.09.

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

Institutional Trading of LGI Homes

A number of large investors have recently made changes to their positions in LGIH. Caitong International Asset Management Co. Ltd lifted its position in LGI Homes by 75.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 237 shares during the period. Russell Investments Group Ltd. raised its stake in LGI Homes by 106.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock valued at $30,000 after buying an additional 305 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of LGI Homes by 284.4% during the 2nd quarter. Signaturefd LLC now owns 815 shares of the financial services provider’s stock valued at $42,000 after buying an additional 603 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of LGI Homes by 74.8% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 928 shares of the financial services provider’s stock worth $48,000 after buying an additional 397 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of LGI Homes by 35.1% in the 3rd quarter. Versant Capital Management Inc now owns 947 shares of the financial services provider’s stock worth $49,000 after buying an additional 246 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors.

About LGI Homes

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.