Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of LGI Homes from a buy rating to a hold rating in a research note on Tuesday. JMP Securities boosted their price objective on shares of LGI Homes from $62.00 to $68.00 and gave the stock a market outperform rating in a research note on Wednesday, November 8th. Wedbush restated a neutral rating and set a $60.00 price objective (up from $55.00) on shares of LGI Homes in a research note on Wednesday, November 8th. ValuEngine upgraded shares of LGI Homes from a buy rating to a strong-buy rating in a research note on Saturday, September 30th. Finally, BidaskClub lowered shares of LGI Homes from a strong-buy rating to a buy rating in a research note on Friday, August 25th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $54.33.
LGI Homes (NASDAQ LGIH) opened at $63.33 on Monday. The firm has a market cap of $1,419.05, a PE ratio of 15.11, a PEG ratio of 1.31 and a beta of 0.20. LGI Homes has a 52 week low of $26.82 and a 52 week high of $66.19. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 8.91.
LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.10. The company had revenue of $365.90 million for the quarter, compared to analyst estimates of $355.81 million. LGI Homes had a net margin of 9.26% and a return on equity of 25.51%. LGI Homes’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. research analysts predict that LGI Homes will post 4.54 earnings per share for the current fiscal year.
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In related news, insider Michael Larry Snider sold 3,500 shares of LGI Homes stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $45.81, for a total transaction of $160,335.00. Following the completion of the sale, the insider now owns 191,948 shares of the company’s stock, valued at approximately $8,793,137.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric Thomas Lipar sold 25,000 shares of LGI Homes stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $54.27, for a total transaction of $1,356,750.00. Following the sale, the chief executive officer now directly owns 504,593 shares of the company’s stock, valued at approximately $27,384,262.11. The disclosure for this sale can be found here. Insiders have sold a total of 71,601 shares of company stock valued at $4,233,916 in the last ninety days. 13.60% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in LGIH. Alliancebernstein L.P. boosted its holdings in shares of LGI Homes by 48.2% during the 1st quarter. Alliancebernstein L.P. now owns 24,300 shares of the financial services provider’s stock worth $824,000 after buying an additional 7,900 shares during the period. Teachers Advisors LLC boosted its holdings in LGI Homes by 3.2% in the 1st quarter. Teachers Advisors LLC now owns 27,956 shares of the financial services provider’s stock valued at $948,000 after purchasing an additional 859 shares during the period. Legal & General Group Plc boosted its holdings in LGI Homes by 1.1% in the 1st quarter. Legal & General Group Plc now owns 28,293 shares of the financial services provider’s stock valued at $959,000 after purchasing an additional 306 shares during the period. Thrivent Financial For Lutherans boosted its holdings in LGI Homes by 3.8% in the 1st quarter. Thrivent Financial For Lutherans now owns 9,570 shares of the financial services provider’s stock valued at $325,000 after purchasing an additional 350 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in LGI Homes by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 849,255 shares of the financial services provider’s stock valued at $28,798,000 after purchasing an additional 45,728 shares during the period. 88.22% of the stock is owned by institutional investors and hedge funds.
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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