LGI Homes Sees Unusually-High Trading Volume After Better-Than-Expected Earnings (LGIH)
Shares of LGI Homes (NASDAQ:LGIH) saw unusually-high trading volume on Wednesday following a stronger than expected earnings report, StockRatingsNetwork reports. Approximately 152,825 shares changed hands during trading, an increase of 30% from the previous session’s volume of 117,956 shares.The stock last traded at $18.80 and had previously closed at $19.00.
The company reported $0.43 EPS for the quarter, beating the Thomson Reuters 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.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of LGI Homes in a research note on Wednesday. They now have a $21.00 price target on the stock, up previously from $20.00. Separately, 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. Finally, 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. Six analysts have rated the stock with a buy rating, LGI Homes presently has a consensus rating of “Buy” and an average target price of $21.34.
The stock’s 50-day moving average is $19.20 and its 200-day moving average is $17.24. The company has a market cap of $393.1 million and a price-to-earnings ratio of 42.79.
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.
Receive News & Ratings for LGI Homes Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGI Homes Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.