LGI Homes (NASDAQ:LGIH) Shares Up 5.2% – Here’s What Happened

Shares of LGI Homes, Inc. (NASDAQ:LGIH) rose 5.2% during mid-day trading on Monday . The company traded as high as $97.25 and last traded at $95.13. Approximately 54,581 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 177,166 shares. The stock had previously closed at $90.39.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Seaport Res Ptn upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Monday. Wedbush reiterated a “neutral” rating and issued a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and set a $160.00 price target on shares of LGI Homes in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $118.33.

LGI Homes Stock Performance

The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 11.06 and a beta of 2.02. The firm has a fifty day moving average of $96.20 and a 200 day moving average of $103.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The firm had revenue of $651.85 million during the quarter, compared to analysts’ expectations of $645.27 million. During the same period in the previous year, the business posted $2.84 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LGI Homes

A number of institutional investors have recently modified their holdings of LGIH. JPMorgan Chase & Co. raised its holdings in LGI Homes by 131.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock worth $13,222,000 after purchasing an additional 63,346 shares during the period. Citigroup Inc. raised its stake in shares of LGI Homes by 60.9% during the 3rd quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider’s stock worth $4,954,000 after buying an additional 15,818 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of LGI Homes by 5.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,232 shares of the financial services provider’s stock valued at $383,000 after buying an additional 176 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in LGI Homes in the 3rd quarter valued at $334,000. Finally, Creative Planning purchased a new stake in LGI Homes in the 3rd quarter worth $375,000. 84.89% of the stock is currently 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.