LGI Homes (NASDAQ:LGIH) Shares Gap Up Following Analyst Upgrade

LGI Homes, Inc. (NASDAQ:LGIH) shares gapped up before the market opened on Wednesday after Citizens Jmp raised their price target on the stock from $85.00 to $95.00. The stock had previously closed at $43.86, but opened at $46.98. Citizens Jmp currently has a market outperform rating on the stock. LGI Homes shares last traded at $45.3660, with a volume of 98,727 shares.

LGIH has been the subject of several other research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a research report on Monday, December 29th. Wedbush reaffirmed a “neutral” rating and set a $95.00 price objective on shares of LGI Homes in a research note on Monday, October 6th. JPMorgan Chase & Co. increased their target price on LGI Homes from $47.00 to $48.50 and gave the company an “underweight” rating in a research note on Tuesday, October 14th. Capital One Financial set a $60.00 target price on LGI Homes in a report on Thursday, October 9th. Finally, Citigroup restated an “outperform” rating on shares of LGI Homes in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, LGI Homes has a consensus rating of “Hold” and an average price target of $76.70.

Hedge Funds Weigh In On LGI Homes

Several institutional investors and hedge funds have recently modified their holdings of the business. Voss Capital LP acquired a new stake in LGI Homes during the 2nd quarter worth approximately $11,592,000. Tributary Capital Management LLC increased its position in shares of LGI Homes by 93.1% during the third quarter. Tributary Capital Management LLC now owns 386,072 shares of the financial services provider’s stock worth $19,964,000 after acquiring an additional 186,159 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in shares of LGI Homes by 118.5% during the third quarter. Voloridge Investment Management LLC now owns 155,012 shares of the financial services provider’s stock worth $8,016,000 after acquiring an additional 84,079 shares during the period. Shay Capital LLC bought a new stake in LGI Homes in the 2nd quarter valued at $3,235,000. Finally, Jump Financial LLC boosted its stake in LGI Homes by 171.3% in the 2nd quarter. Jump Financial LLC now owns 87,515 shares of the financial services provider’s stock worth $4,509,000 after purchasing an additional 55,259 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Stock Performance

The stock’s 50 day moving average is $46.69 and its two-hundred day moving average is $52.16. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 10.32 and a beta of 1.88. The company has a current ratio of 18.02, a quick ratio of 0.58 and a debt-to-equity ratio of 0.84.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.09). The firm had revenue of $396.63 million during the quarter, compared to the consensus estimate of $421.66 million. LGI Homes had a net margin of 5.93% and a return on equity of 5.50%. Analysts expect that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

LGI Homes Company Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.