LGI Homes, Inc. (NASDAQ:LGIH) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $45.33 and last traded at $45.33, with a volume of 109,720 shares trading hands. The stock had previously closed at $45.21.
LGIH has been the subject of a number of recent research reports. Zacks Investment Research upgraded LGI Homes from a “hold” rating to a “strong-buy” rating and set a $49.00 target price for the company in a research note on Tuesday, July 18th. ValuEngine lowered LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Wells Fargo & Company upgraded LGI Homes from an “underperform” rating to a “market perform” rating and set a $33.00 price objective for the company in a research note on Tuesday, May 16th. Wedbush restated a “neutral” rating and set a $35.00 price objective on shares of LGI Homes in a research note on Tuesday, July 4th. Finally, BidaskClub upgraded LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $44.20.
The company has a 50-day moving average of $43.01 and a 200 day moving average of $34.69. The stock has a market capitalization of $991.26 million, a P/E ratio of 12.18 and a beta of 0.07.
LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.12. The business had revenue of $324.20 million for the quarter, compared to analysts’ expectations of $317.63 million. LGI Homes had a net margin of 9.22% and a return on equity of 23.65%. The firm’s quarterly revenue was up 45.6% compared to the same quarter last year. During the same period last year, the firm posted $0.96 earnings per share. Equities research analysts expect that LGI Homes, Inc. will post $4.20 earnings per share for the current year.
In other LGI Homes news, CEO Eric Thomas Lipar sold 10,000 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $42.59, for a total transaction of $425,900.00. Following the sale, the chief executive officer now owns 524,175 shares of the company’s stock, valued at $22,324,613.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in LGIH. Dimensional Fund Advisors LP raised its position in LGI Homes by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 59,729 shares of the financial services provider’s stock valued at $2,400,000 after buying an additional 393 shares during the last quarter. Nordea Investment Management AB raised its position in LGI Homes by 2.9% in the second quarter. Nordea Investment Management AB now owns 54,060 shares of the financial services provider’s stock valued at $2,172,000 after buying an additional 1,511 shares during the last quarter. FMR LLC purchased a new position in LGI Homes during the second quarter valued at about $21,233,000. Vanguard Group Inc. raised its position in LGI Homes by 3.4% in the second quarter. Vanguard Group Inc. now owns 878,551 shares of the financial services provider’s stock valued at $35,299,000 after buying an additional 29,296 shares during the last quarter. Finally, Northern Trust Corp raised its position in LGI Homes by 10.8% in the second quarter. Northern Trust Corp now owns 213,298 shares of the financial services provider’s stock valued at $8,569,000 after buying an additional 20,806 shares during the last quarter. Institutional investors and hedge funds own 87.66% of the company’s stock.
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LGI Homes Company Profile
LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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