LGI Homes, Inc. (NASDAQ:LGIH) – Research analysts at Wedbush raised their Q4 2018 EPS estimates for LGI Homes in a note issued to investors on Wednesday. Wedbush analyst J. Mccanless now forecasts that the financial services provider will post earnings of $2.02 per share for the quarter, up from their prior forecast of $1.98. Wedbush currently has a “Neutral” rating and a $60.00 target price on the stock.
LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.10. LGI Homes had a net margin of 9.26% and a return on equity of 25.51%. The business had revenue of $365.90 million for the quarter, compared to the consensus estimate of $355.81 million. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was up 69.2% compared to the same quarter last year.
Other research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of LGI Homes from a “hold” rating to a “strong-buy” rating and set a $49.00 price objective on the stock in a research note on Tuesday, July 18th. BidaskClub upgraded shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. J P Morgan Chase & Co downgraded shares of LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a research note on Wednesday, August 9th. JMP Securities increased their price objective on shares of LGI Homes from $62.00 to $68.00 and gave the company a “market outperform” rating in a research note on Wednesday. Finally, ValuEngine upgraded shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 30th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. LGI Homes currently has a consensus rating of “Buy” and a consensus target price of $54.33.
LGI Homes (NASDAQ LGIH) traded down $0.54 during trading on Thursday, hitting $63.15. 279,700 shares of the stock traded hands, compared to its average volume of 381,402. The firm has a market capitalization of $1,384.48, a price-to-earnings ratio of 14.74, a P/E/G ratio of 1.27 and a beta of 0.20. LGI Homes has a 52 week low of $26.82 and a 52 week high of $66.13. The company has a quick ratio of 0.91, a current ratio of 8.91 and a debt-to-equity ratio of 1.04.
Hedge funds have recently bought and sold shares of the stock. FMR LLC bought a new position in shares of LGI Homes in the second quarter valued at approximately $21,233,000. Capital Growth Management LP raised its position in shares of LGI Homes by 113.6% in the third quarter. Capital Growth Management LP now owns 470,000 shares of the financial services provider’s stock valued at $22,828,000 after purchasing an additional 250,000 shares during the period. Pictet Asset Management Ltd. raised its position in shares of LGI Homes by 467.7% in the second quarter. Pictet Asset Management Ltd. now owns 215,227 shares of the financial services provider’s stock valued at $6,973,000 after purchasing an additional 177,316 shares during the period. Kennedy Capital Management Inc. bought a new position in shares of LGI Homes in the second quarter valued at approximately $6,402,000. Finally, BlackRock Inc. raised its position in shares of LGI Homes by 3.9% in the second quarter. BlackRock Inc. now owns 2,493,251 shares of the financial services provider’s stock valued at $100,180,000 after purchasing an additional 92,633 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.
In other news, CEO Eric Thomas Lipar sold 25,000 shares of LGI Homes stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $54.27, for a total value of $1,356,750.00. Following the transaction, the chief executive officer now owns 504,593 shares of the company’s stock, valued at approximately $27,384,262.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Larry Snider sold 3,500 shares of LGI Homes stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $45.81, for a total transaction of $160,335.00. Following the completion of the transaction, the insider now directly owns 191,948 shares in the company, valued at approximately $8,793,137.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,500 shares of company stock worth $2,674,585. 13.60% of the stock is owned by corporate insiders.
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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