LGI Homes (NASDAQ:LGIH) Hits New 12-Month High at $75.58

LGI Homes Inc (NASDAQ:LGIH) hit a new 52-week high on Friday . The stock traded as high as $75.58 and last traded at $75.18, with a volume of 10671 shares traded. The stock had previously closed at $73.43.

Several brokerages have weighed in on LGIH. Wells Fargo & Co increased their target price on Wingstop from $76.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. JMP Securities set a $79.00 target price on LGI Homes and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. BidaskClub lowered Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, ValuEngine raised Valmont Industries from a “sell” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. LGI Homes has a consensus rating of “Buy” and an average price target of $70.50.

The firm has a market capitalization of $1.74 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 1.03 and a beta of 0.57. The company has a quick ratio of 1.35, a current ratio of 16.86 and a debt-to-equity ratio of 1.00. The firm’s fifty day simple moving average is $71.44.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results 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). The business had revenue of $287.60 million for the quarter, compared to analyst estimates of $288.06 million. LGI Homes had a net margin of 9.67% and a return on equity of 23.28%. LGI Homes’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the business posted $1.10 earnings per share. Analysts forecast that LGI Homes Inc will post 6.69 EPS for the current year.

In other news, Director Steven Randal Smith sold 2,500 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $74.49, for a total transaction of $186,225.00. Following the transaction, the director now directly owns 12,407 shares of the company’s stock, valued at $924,197.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Larry Snider sold 13,170 shares of LGI Homes stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $68.11, for a total value of $897,008.70. Following the transaction, the insider now directly owns 175,544 shares in the company, valued at $11,956,301.84. The disclosure for this sale can be found here. Insiders have sold 25,670 shares of company stock worth $1,792,334 over the last three months. Corporate insiders own 13.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in LGIH. FMR LLC grew its holdings in LGI Homes by 40.3% during the fourth quarter. FMR LLC now owns 2,371,309 shares of the financial services provider’s stock worth $107,231,000 after acquiring an additional 681,165 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new position in LGI Homes during the fourth quarter worth about $9,605,000. Pier Capital LLC acquired a new position in LGI Homes during the first quarter worth about $4,979,000. Lord Abbett & CO. LLC grew its holdings in LGI Homes by 39.4% during the fourth quarter. Lord Abbett & CO. LLC now owns 265,962 shares of the financial services provider’s stock worth $12,027,000 after acquiring an additional 75,104 shares during the period. Finally, Marshall Wace LLP acquired a new position in LGI Homes during the first quarter worth about $3,678,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

LGI Homes Company Profile (NASDAQ:LGIH)

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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