LGI Homes (NASDAQ:LGIH) Shares Break Above Fifty Day Moving Average – Time to Sell?

LGI Homes, Inc. (NASDAQ:LGIH)’s share price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $47.90 and traded as high as $50.13. LGI Homes shares last traded at $48.90, with a volume of 807,788 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LGIH shares. Wall Street Zen upgraded LGI Homes from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Weiss Ratings cut shares of LGI Homes from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, September 21st. Finally, Citigroup reiterated a “market outperform” rating on shares of LGI Homes in a report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $68.00.

LGI Homes Price Performance

The company has a market cap of $1.14 billion, a P/E ratio of 16.03 and a beta of 1.88. The company has a fifty day moving average price of $47.90 and a two-hundred day moving average price of $50.20. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.61 and a current ratio of 15.63.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, November 3rd. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.33. LGI Homes had a return on equity of 3.75% and a net margin of 4.05%. The business had revenue of $444.46 million for the quarter, compared to analyst estimates of $438.21 million. During the same quarter in the prior year, the company posted $0.85 earnings per share. LGI Homes’s revenue was up 12.1% on a year-over-year basis.

Institutional Investors Weigh In On LGI Homes

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in LGI Homes by 14.7% during the second 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 period. Allworth Financial LP grew its holdings in LGI Homes by 159.8% in the 2nd quarter. Allworth Financial LP now owns 878 shares of the financial services provider’s stock valued at $56,000 after buying an additional 540 shares in the last quarter. Everhart Financial Group Inc. increased its position in LGI Homes by 9.4% during the third quarter. Everhart Financial Group Inc. now owns 7,520 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 648 shares during the period. Compass Wealth Management LLC bought a new position in shares of LGI Homes during the third quarter worth approximately $33,000. Finally, Rockefeller Capital Management L.P. raised its holdings in LGI Homes by 1,759.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 827 shares in the last quarter. Institutional investors own 84.89% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc is a homebuilder that designs, constructs and sells single-family homes in planned residential communities across the United States. The company primarily serves entry-level and first-time homebuyers, while also offering homes for move-up buyers and active-adult customers. Its communities typically feature standardized home designs, modern amenities and financing-related support intended to simplify the homebuying process.

Founded in 2003, LGI Homes has expanded from its original Texas operations into numerous housing markets throughout the South, Southwest and other high-growth regions.