LGI Homes (NASDAQ:LGIH) Stock Passes Above 50-Day Moving Average – Should You Sell?

Shares of LGI Homes, Inc. (NASDAQ:LGIHGet Free Report) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $53.12 and traded as high as $62.00. LGI Homes shares last traded at $61.04, with a volume of 213,936 shares traded.

Analyst Ratings Changes

A number of research analysts have recently commented on LGIH shares. Zacks Research raised LGI Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of LGI Homes in a report on Friday, May 22nd. JPMorgan Chase & Co. increased their target price on shares of LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Finally, Wall Street Zen raised shares of LGI Homes from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $72.75.

Check Out Our Latest Report on LGI Homes

LGI Homes Trading Up 2.9%

The stock has a market capitalization of $1.42 billion, a P/E ratio of 20.01 and a beta of 1.82. The business has a 50 day simple moving average of $53.12 and a 200-day simple moving average of $49.20. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 18.56.

LGI Homes (NASDAQ:LGIHGet Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.22. The company had revenue of $319.74 million for the quarter, compared to the consensus estimate of $328.22 million. LGI Homes had a return on equity of 3.80% and a net margin of 4.22%.The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 EPS.

Institutional Investors Weigh In On LGI Homes

A number of institutional investors and hedge funds have recently bought and sold shares of LGIH. Caitong International Asset Management Co. Ltd boosted its position in shares of LGI Homes by 75.5% during the 3rd 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 in the last quarter. GAMMA Investing LLC grew its stake in shares of LGI Homes by 14.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,093 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 269 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of LGI Homes by 106.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 305 shares in the last quarter. Pinnacle Holdings LLC raised its holdings in shares of LGI Homes by 3.7% in the 4th quarter. Pinnacle Holdings LLC now owns 11,174 shares of the financial services provider’s stock worth $480,000 after purchasing an additional 396 shares in the last quarter. Finally, Swiss National Bank lifted its stake in LGI Homes by 1.5% during the third quarter. Swiss National Bank now owns 40,781 shares of the financial services provider’s stock valued at $2,109,000 after purchasing an additional 600 shares during the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.

About LGI Homes

(Get Free Report)

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.

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