LGI Homes (NASDAQ:LGIH) Shares Gap Up to $104.95

LGI Homes, Inc. (NASDAQ:LGIH)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $104.95, but opened at $112.00. LGI Homes shares last traded at $112.74, with a volume of 51,863 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on LGIH shares. JMP Securities reissued a “market outperform” rating and set a $160.00 price target on shares of LGI Homes in a research report on Friday, April 5th. Wedbush reaffirmed an “underperform” rating and set a $74.00 price target on shares of LGI Homes in a research report on Thursday, June 6th. StockNews.com lowered LGI Homes from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. decreased their target price on LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LGI Homes currently has an average rating of “Hold” and an average price target of $107.50.

LGI Homes Price Performance

The stock has a market cap of $2.62 billion, a PE ratio of 14.28 and a beta of 1.92. The company has a current ratio of 12.36, a quick ratio of 0.43 and a debt-to-equity ratio of 0.74. The business has a fifty day simple moving average of $95.28 and a two-hundred day simple moving average of $104.70.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.30). The firm had revenue of $390.90 million during the quarter, compared to analysts’ expectations of $400.00 million. LGI Homes had a return on equity of 10.43% and a net margin of 8.37%. LGI Homes’s revenue for the quarter was down 19.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 earnings per share. Research analysts forecast that LGI Homes, Inc. will post 8.82 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of LGI Homes by 0.9% during the first quarter. Vanguard Group Inc. now owns 2,220,411 shares of the financial services provider’s stock valued at $258,389,000 after purchasing an additional 19,800 shares in the last quarter. Wasatch Advisors LP increased its position in LGI Homes by 9.9% during the 1st quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider’s stock valued at $169,929,000 after buying an additional 131,467 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in LGI Homes by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,443,038 shares of the financial services provider’s stock valued at $192,158,000 after buying an additional 58,850 shares during the last quarter. Capital World Investors raised its stake in LGI Homes by 6.2% during the first quarter. Capital World Investors now owns 846,202 shares of the financial services provider’s stock valued at $98,473,000 after buying an additional 49,640 shares during the last quarter. Finally, CDAM UK Ltd boosted its holdings in LGI Homes by 14.7% in the fourth quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock worth $89,878,000 after acquiring an additional 86,265 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors.

LGI Homes Company Profile

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.