LGI Homes (LGIH) Trading 8.6% Higher

LGI Homes Inc (NASDAQ:LGIH) traded up 8.6% during trading on Wednesday . The stock traded as high as $72.01 and last traded at $71.43. 576,080 shares changed hands during mid-day trading, an increase of 29% from the average session volume of 445,434 shares. The stock had previously closed at $65.75.

Several equities research analysts have recently commented on the company. BidaskClub downgraded LGI Homes from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Wedbush raised LGI Homes from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $59.51 to $73.00 in a report on Tuesday, February 13th. Zacks Investment Research downgraded LGI Homes from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Finally, ValuEngine raised LGI Homes from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $61.50.

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The company has a quick ratio of 1.16, a current ratio of 9.16 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $1,595.19, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 1.06 and a beta of 0.13.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.03. The company had revenue of $405.00 million for the quarter, compared to analysts’ expectations of $377.46 million. LGI Homes had a return on equity of 26.41% and a net margin of 9.01%. LGI Homes’s revenue was up 71.0% on a year-over-year basis. During the same quarter last year, the business earned $1.01 earnings per share. equities analysts forecast that LGI Homes Inc will post 6.1 earnings per share for the current fiscal year.

In related news, CEO Eric Thomas Lipar sold 40,208 shares of the firm’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $63.80, for a total value of $2,565,270.40. Following the sale, the chief executive officer now directly owns 577,630 shares of the company’s stock, valued at $36,852,794. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Margaret Mary Britton sold 4,144 shares of the firm’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $63.80, for a total value of $264,387.20. Following the completion of the sale, the chief accounting officer now directly owns 49,274 shares in the company, valued at $3,143,681.20. The disclosure for this sale can be found here. Insiders sold 114,432 shares of company stock worth $7,506,512 over the last ninety days. 13.60% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in LGIH. Advisor Group Inc. boosted its stake in LGI Homes by 384.7% in the fourth quarter. Advisor Group Inc. now owns 1,454 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,154 shares in the last quarter. Meadow Creek Investment Management LLC acquired a new stake in shares of LGI Homes during the fourth quarter valued at about $172,000. Midas Management Corp acquired a new stake in shares of LGI Homes during the fourth quarter valued at about $191,000. SG Americas Securities LLC acquired a new stake in shares of LGI Homes during the third quarter valued at about $199,000. Finally, Stifel Financial Corp acquired a new stake in shares of LGI Homes during the third quarter valued at about $216,000. 84.84% of the stock is currently owned by institutional investors and hedge funds.

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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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