LGI Homes, Inc. (NASDAQ:LGIH) – Investment analysts at Wedbush decreased their Q1 2018 EPS estimates for shares of LGI Homes in a report issued on Tuesday. Wedbush analyst J. Mccanless now anticipates that the financial services provider will earn $0.50 per share for the quarter, down from their previous forecast of $0.61. Wedbush currently has a “Neutral” rating and a $35.00 target price on the stock.
LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.12. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. The company had revenue of $324.20 million for the quarter, compared to analysts’ expectations of $317.63 million. During the same quarter in the previous year, the business posted $0.96 EPS. The business’s revenue for the quarter was up 45.6% on a year-over-year basis.
A number of other research analysts also recently issued reports on LGIH. Deutsche Bank AG increased their price objective on LGI Homes to $55.00 and gave the stock a “buy” rating in a report on Thursday. J P Morgan Chase & Co downgraded LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price target for the company. in a research note on Wednesday. BidaskClub upgraded LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Wells Fargo & Company upgraded LGI Homes from an “underperform” rating to a “market perform” rating and set a $33.00 price target for the company in a research note on Tuesday, May 16th. Finally, Zacks Investment Research downgraded LGI Homes from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $44.20.
LGI Homes (NASDAQ LGIH) traded down 0.46% during trading on Thursday, reaching $45.85. The company’s stock had a trading volume of 114,893 shares. The firm has a market cap of $991.05 million, a P/E ratio of 12.17 and a beta of 0.07. The stock’s 50 day moving average is $42.56 and its 200-day moving average is $34.49. LGI Homes has a 52 week low of $26.82 and a 52 week high of $49.95.
In other LGI Homes news, CEO Eric Thomas Lipar sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $42.59, for a total value of $425,900.00. Following the completion of the transaction, the chief executive officer now directly owns 524,175 shares in the company, valued at $22,324,613.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.60% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kennedy Capital Management Inc. bought a new position in LGI Homes during the second quarter worth $6,402,000. LSV Asset Management increased its position in LGI Homes by 40.8% in the second quarter. LSV Asset Management now owns 146,903 shares of the financial services provider’s stock worth $5,902,000 after buying an additional 42,600 shares in the last quarter. Campbell Newman Asset Management Inc. boosted its stake in LGI Homes by 4.8% in the second quarter. Campbell Newman Asset Management Inc. now owns 10,745 shares of the financial services provider’s stock worth $432,000 after buying an additional 495 shares during the last quarter. Swiss National Bank boosted its stake in LGI Homes by 18.5% in the second quarter. Swiss National Bank now owns 30,081 shares of the financial services provider’s stock worth $1,209,000 after buying an additional 4,700 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its stake in LGI Homes by 3.7% in the second quarter. Heartland Advisors Inc. now owns 727,800 shares of the financial services provider’s stock worth $29,243,000 after buying an additional 25,800 shares during the last quarter. Hedge funds and other institutional investors own 87.66% of the company’s stock.
About LGI Homes
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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