LGI Homes (NASDAQ:LGIH) Trading Up 5.2% – Here’s Why

Shares of LGI Homes, Inc. (NASDAQ:LGIH) shot up 5.2% during mid-day trading on Monday . The company traded as high as $97.25 and last traded at $95.13. 54,581 shares changed hands during trading, a decline of 69% from the average session volume of 177,166 shares. The stock had previously closed at $90.39.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. Finally, JMP Securities restated a “market outperform” rating and issued a $160.00 price target on shares of LGI Homes in a research report on Friday, January 10th.

LGI Homes Stock Up 4.9 %

The company has a market capitalization of $2.23 billion, a P/E ratio of 11.37 and a beta of 2.02. The business’s fifty day moving average price is $96.51 and its 200 day moving average price is $103.97. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.54 by $0.41. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The business had revenue of $651.85 million during the quarter, compared to the consensus estimate of $645.27 million. During the same quarter last year, the company earned $2.84 EPS. LGI Homes’s revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts predict that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LGIH. Blue Trust Inc. raised its stake in shares of LGI Homes by 112.9% in the fourth quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 184 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in LGI Homes in the 3rd quarter worth approximately $43,000. KBC Group NV raised its position in LGI Homes by 29.8% in the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 168 shares during the last quarter. CWM LLC lifted its holdings in LGI Homes by 27.5% during the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider’s stock worth $103,000 after buying an additional 187 shares in the last quarter. Finally, Heritage Family Offices LLP bought a new position in LGI Homes in the 3rd quarter valued at $218,000. 84.89% of the stock is 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.