LGI Homes, Inc. (NASDAQ:LGIH – Get Free Report)’s share price shot up 7% on Tuesday . The stock traded as high as $54.42 and last traded at $54.1150. 45,341 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 449,875 shares. The stock had previously closed at $50.59.
Analysts Set New Price Targets
Several brokerages recently issued reports on LGIH. JPMorgan Chase & Co. boosted their price objective on shares of LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a research report on Friday, May 22nd. Zacks Research raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $72.75.
View Our Latest Report on LGIH
LGI Homes Price Performance
LGI Homes (NASDAQ:LGIH – Get Free Report) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.22. The company had revenue of $319.74 million during the quarter, compared to analysts’ expectations of $328.22 million. LGI Homes had a return on equity of 3.80% and a net margin of 4.22%.LGI Homes’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. Sell-side analysts expect that LGI Homes, Inc. will post 2.76 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Altshuler Shaham Ltd lifted its holdings in LGI Homes by 5.4% during the 1st quarter. Altshuler Shaham Ltd now owns 1,087,263 shares of the financial services provider’s stock worth $42,980,000 after buying an additional 55,465 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of LGI Homes by 45.5% in the first quarter. California State Teachers Retirement System now owns 28,360 shares of the financial services provider’s stock valued at $1,121,000 after acquiring an additional 8,863 shares in the last quarter. First Trust Advisors LP raised its stake in shares of LGI Homes by 27.7% in the first quarter. First Trust Advisors LP now owns 99,354 shares of the financial services provider’s stock valued at $3,927,000 after acquiring an additional 21,523 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in LGI Homes by 10.4% in the first quarter. Illinois Municipal Retirement Fund now owns 13,177 shares of the financial services provider’s stock valued at $521,000 after purchasing an additional 1,241 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in LGI Homes by 2.0% in the first quarter. Principal Financial Group Inc. now owns 98,722 shares of the financial services provider’s stock valued at $3,902,000 after purchasing an additional 1,919 shares during the period. Institutional investors and hedge funds own 84.89% of the company’s stock.
LGI Homes Company Profile
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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