LGI Homes (NASDAQ:LGIH) Shares Up 5.2% – What’s Next?

LGI Homes, Inc. (NASDAQ:LGIH) shares shot up 5.2% on Thursday . The stock traded as high as $76.05 and last traded at $76.23. 230,672 shares were traded during mid-day trading, an increase of 1% from the average session volume of 229,166 shares. The stock had previously closed at $72.49.

Analyst Ratings Changes

Several brokerages have recently weighed in on LGIH. JPMorgan Chase & Co. reduced their target price on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Wedbush reissued a “neutral” rating and issued a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. Seaport Res Ptn raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 27th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 price target on shares of LGI Homes in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $118.33.

LGI Homes Stock Down 0.6 %

The company has a market cap of $1.76 billion, a PE ratio of 9.00 and a beta of 2.03. The company’s 50 day moving average is $85.02 and its 200 day moving average is $99.59. 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 quarterly earnings results on Tuesday, February 25th. The financial services provider reported $2.15 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.16). LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company had revenue of $557.40 million during the quarter, compared to analysts’ expectations of $588.56 million. During the same period in the prior year, the business earned $2.19 EPS. The company’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, analysts predict that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LGI Homes

Several institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of LGI Homes by 20.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,345 shares of the financial services provider’s stock valued at $3,964,000 after purchasing an additional 7,508 shares in the last quarter. iSAM Funds UK Ltd acquired a new stake in LGI Homes in the 4th quarter valued at $405,000. Squarepoint Ops LLC acquired a new stake in LGI Homes in the 4th quarter valued at $3,227,000. Two Sigma Advisers LP grew its stake in LGI Homes by 24.7% in the 4th quarter. Two Sigma Advisers LP now owns 20,700 shares of the financial services provider’s stock valued at $1,851,000 after acquiring an additional 4,100 shares during the period. Finally, Sherbrooke Park Advisers LLC acquired a new stake in LGI Homes in the 4th quarter valued at $329,000. 84.89% of the stock is owned by hedge funds and other 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.