LGI Homes Shares Up 3.4% Following Earnings Beat (LGIH)
LGI Homes (NASDAQ:LGIH)’s share price shot up 3.4% during trading on Tuesday following a stronger than expected earnings report, Analyst Ratings.Net reports. The company traded as high as $21.09 and last traded at $19.97, with a volume of 275,898 shares changing hands. The stock had previously closed at $19.31.
The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.10. The company had revenue of $106.40 million for the quarter, compared to the consensus estimate of $90.81 million.
LGIH has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of LGI Homes from a “neutral” rating to an “outperform” rating in a research note on Friday, July 25th. They now have a $21.70 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of LGI Homes in a research note on Monday, June 23rd. They now have a $20.00 price target on the stock, up previously from $18.00. Finally, analysts at Sidoti initiated coverage on shares of LGI Homes in a research note on Tuesday, June 3rd. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a buy rating, LGI Homes presently has an average rating of “Buy” and a consensus price target of $21.14.
The stock’s 50-day moving average is $19.19 and its 200-day moving average is $17.22. The company has a market cap of $410.7 million and a price-to-earnings ratio of 43.49.
LGI Homes, Inc is a homebuilding company engaged in the design and construction of entry-level homes in markets in Texas, Arizona, Florida and Georgia.
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