LGI Homes Inc (NASDAQ:LGIH) was upgraded by analysts at Wells Fargo & Co from an “underperform” rating to a “market perform” rating in a note issued to investors on Tuesday.

Other equities research analysts have also recently issued reports about the stock. Wedbush reiterated a “neutral” rating and set a $35.00 price target on shares of LGI Homes in a research report on Thursday, April 6th. Zacks Investment Research cut shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. Finally, BTIG Research assumed coverage on shares of LGI Homes in a research report on Tuesday, February 7th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $37.00.

LGI Homes (NASDAQ:LGIH) traded up 3.85% during mid-day trading on Tuesday, hitting $33.95. 688,098 shares of the stock were exchanged. The stock has a market cap of $733.29 million, a PE ratio of 10.19 and a beta of 0.19. The stock’s 50 day moving average is $31.64 and its 200 day moving average is $30.80. LGI Homes has a 52-week low of $23.86 and a 52-week high of $40.47.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. LGI Homes had a net margin of 8.68% and a return on equity of 23.66%. The business had revenue of $162.91 million during the quarter, compared to analysts’ expectations of $161.68 million. During the same period last year, the business earned $0.57 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. Analysts forecast that LGI Homes will post $3.90 EPS for the current fiscal year.

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In other LGI Homes news, CEO Eric Thomas Lipar sold 16,670 shares of LGI Homes stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $32.29, for a total transaction of $538,274.30. Following the completion of the sale, the chief executive officer now directly owns 560,845 shares in the company, valued at $18,109,685.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Charles Michael Merdian sold 4,255 shares of LGI Homes stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $32.29, for a total transaction of $137,393.95. Following the sale, the chief financial officer now owns 69,407 shares of the company’s stock, valued at $2,241,152.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,735 shares of company stock valued at $1,200,463. Company insiders own 17.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors boosted its position in shares of LGI Homes by 267.0% in the third quarter. BlackRock Fund Advisors now owns 1,473,784 shares of the financial services provider’s stock worth $54,294,000 after buying an additional 1,072,208 shares during the period. Heartland Advisors Inc. acquired a new position in shares of LGI Homes during the first quarter worth $23,805,000. Neumeier Poma Investment Counsel LLC acquired a new position in shares of LGI Homes during the fourth quarter worth $17,318,000. Frontier Capital Management Co. LLC boosted its position in shares of LGI Homes by 33.6% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,668,753 shares of the financial services provider’s stock worth $47,943,000 after buying an additional 419,525 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC boosted its position in shares of LGI Homes by 8.9% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 2,143,479 shares of the financial services provider’s stock worth $78,966,000 after buying an additional 174,535 shares during the period. Hedge funds and other institutional investors own 82.09% of the company’s stock.

About LGI Homes

LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

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