LGI Homes Inc. (NASDAQ:LGIH) has earned an average recommendation of “Buy” from the six ratings firms that are presently covering the stock. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $41.00.
A number of equities analysts have weighed in on LGIH shares. Zacks Investment Research lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a report on Monday, June 6th. Wells Fargo & Co. started coverage on shares of LGI Homes in a report on Wednesday. They issued an “outperform” rating on the stock. Finally, JMP Securities reiterated a “buy” rating on shares of LGI Homes in a report on Saturday, July 9th.
In other news, insider Eric Thomas Lipar sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $36.66, for a total value of $366,600.00. Following the transaction, the insider now owns 528,933 shares of the company’s stock, valued at approximately $19,390,683.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 17.50% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. increased its position in shares of LGI Homes by 31.3% in the second quarter. Macquarie Group Ltd. now owns 31,697 shares of the company’s stock worth $1,012,000 after buying an additional 7,554 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of LGI Homes by 10.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 56,174 shares of the company’s stock worth $1,795,000 after buying an additional 5,352 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of LGI Homes by 5.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 11,839 shares of the company’s stock worth $378,000 after buying an additional 633 shares in the last quarter. AQR Capital Management LLC increased its position in shares of LGI Homes by 0.6% in the second quarter. AQR Capital Management LLC now owns 72,451 shares of the company’s stock worth $2,314,000 after buying an additional 416 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in shares of LGI Homes during the second quarter worth approximately $238,000. 66.98% of the stock is currently owned by institutional investors and hedge funds.
LGI Homes (NASDAQ:LGIH) opened at 36.84 on Thursday. The company’s 50 day moving average is $36.28 and its 200-day moving average is $30.79. The firm has a market cap of $774.49 million, a P/E ratio of 12.17 and a beta of -0.03. LGI Homes has a 52 week low of $18.74 and a 52 week high of $40.47.
LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, August 9th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.09. LGI Homes had a net margin of 8.63% and a return on equity of 24.52%. The firm had revenue of $222.72 million for the quarter, compared to analyst estimates of $219.52 million. During the same quarter last year, the business earned $0.66 earnings per share. LGI Homes’s revenue was up 40.2% compared to the same quarter last year. Equities analysts expect that LGI Homes will post $3.39 earnings per share for the current year.
LGI Homes Company Profile
LGI Homes, Inc is a homebuilder. 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 has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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