LGI Homes (NASDAQ:LGIH) Issues Earnings Results, Beats Estimates By $0.01 EPS

LGI Homes (NASDAQ:LGIH) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01, FiscalAI reports. LGI Homes had a return on equity of 5.50% and a net margin of 5.93%.The company had revenue of $473.97 million during the quarter, compared to analysts’ expectations of $479.60 million.

LGI Homes Trading Up 1.8%

Shares of LGI Homes stock opened at $60.83 on Tuesday. The stock has a market cap of $1.40 billion, a P/E ratio of 13.43 and a beta of 1.89. The company has a quick ratio of 0.58, a current ratio of 18.02 and a debt-to-equity ratio of 0.84. LGI Homes has a 12-month low of $39.70 and a 12-month high of $88.07. The business’s 50 day moving average is $50.23 and its 200-day moving average is $52.30.

Institutional Trading of LGI Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in LGIH. Wasatch Advisors LP lifted its stake in LGI Homes by 3.4% in the second quarter. Wasatch Advisors LP now owns 1,467,855 shares of the financial services provider’s stock valued at $75,624,000 after acquiring an additional 48,795 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of LGI Homes by 6.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 458,601 shares of the financial services provider’s stock valued at $19,701,000 after purchasing an additional 29,542 shares during the period. Goldman Sachs Group Inc. lifted its stake in LGI Homes by 5.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock valued at $16,627,000 after purchasing an additional 12,524 shares during the last quarter. Voloridge Investment Management LLC lifted its stake in LGI Homes by 118.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 155,012 shares of the financial services provider’s stock valued at $8,016,000 after purchasing an additional 84,079 shares during the last quarter. Finally, Raymond James Financial Inc. grew its holdings in LGI Homes by 1.9% during the second quarter. Raymond James Financial Inc. now owns 138,506 shares of the financial services provider’s stock worth $7,136,000 after purchasing an additional 2,574 shares during the period. 84.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a research report on Wednesday, January 7th. Weiss Ratings restated a “sell (d)” rating on shares of LGI Homes in a report on Monday, December 29th. Finally, Citizens Jmp raised their target price on shares of LGI Homes from $85.00 to $95.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $76.70.

LGI Homes Company Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.