Shares of LGI Homes Inc (NASDAQ:LGIH) have been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $68.13.
A number of equities research analysts recently commented on LGIH shares. JMP Securities set a $79.00 price target on shares of LGI Homes and gave the company a “buy” rating in a report on Tuesday, April 9th. ValuEngine lowered LGI Homes from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. BidaskClub lowered LGI Homes from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Wells Fargo & Co increased their price objective on LGI Homes from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Finally, Zacks Investment Research lowered LGI Homes from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th.
Shares of NASDAQ:LGIH traded up $0.58 on Thursday, reaching $70.13. 2,116 shares of the company traded hands, compared to its average volume of 282,894. LGI Homes has a fifty-two week low of $37.16 and a fifty-two week high of $72.89. The company has a market capitalization of $1.56 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 0.92 and a beta of 0.61. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.35 and a current ratio of 16.86.
LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.13). LGI Homes had a net margin of 9.67% and a return on equity of 23.28%. The company had revenue of $287.60 million for the quarter, compared to analyst estimates of $288.06 million. During the same quarter last year, the company posted $1.10 EPS. LGI Homes’s revenue was up 3.1% on a year-over-year basis. As a group, research analysts forecast that LGI Homes will post 6.71 EPS for the current fiscal year.
In other LGI Homes news, insider Michael Larry Snider sold 13,170 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $68.11, for a total value of $897,008.70. Following the completion of the sale, the insider now directly owns 175,544 shares in the company, valued at $11,956,301.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Thomas Lipar sold 40,478 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $56.76, for a total value of $2,297,531.28. Following the completion of the sale, the chief executive officer now owns 591,685 shares of the company’s stock, valued at $33,584,040.60. The disclosure for this sale can be found here. Insiders sold a total of 133,611 shares of company stock valued at $7,928,312 over the last three months. Corporate insiders own 13.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new stake in shares of LGI Homes during the 4th quarter valued at $38,684,000. FMR LLC lifted its holdings in shares of LGI Homes by 40.3% in the fourth quarter. FMR LLC now owns 2,371,309 shares of the financial services provider’s stock valued at $107,231,000 after purchasing an additional 681,165 shares in the last quarter. Royce & Associates LP purchased a new stake in shares of LGI Homes in the fourth quarter valued at $11,002,000. Prescott Group Capital Management L.L.C. lifted its holdings in shares of LGI Homes by 1,235.8% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 240,442 shares of the financial services provider’s stock valued at $10,873,000 after purchasing an additional 222,442 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of LGI Homes in the fourth quarter valued at $9,605,000. Hedge funds and other institutional investors own 94.44% of the company’s stock.
About LGI Homes
LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.
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