LGI Homes (NASDAQ:LGIH) Trading Up 7.7% on Analyst Upgrade

Shares of LGI Homes, Inc. (NASDAQ:LGIH) shot up 7.7% during mid-day trading on Thursday after Citizens Jmp raised their price target on the stock from $85.00 to $95.00. Citizens Jmp currently has a market outperform rating on the stock. LGI Homes traded as high as $46.25 and last traded at $46.4650. 132,653 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 401,743 shares. The stock had previously closed at $43.15.

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

Hedge Funds Weigh In On LGI Homes

A number of institutional investors have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of LGI Homes by 453.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 531 shares of the financial services provider’s stock valued at $27,000 after buying an additional 435 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of LGI Homes by 75.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock valued at $28,000 after buying an additional 237 shares during the period. Russell Investments Group Ltd. lifted its holdings in LGI Homes by 106.6% in the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 305 shares during the last quarter. Signaturefd LLC grew its position in LGI Homes by 284.4% in the second quarter. Signaturefd LLC now owns 815 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 603 shares during the period. Finally, Versant Capital Management Inc increased its stake in LGI Homes by 35.1% during the third quarter. Versant Capital Management Inc now owns 947 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 246 shares during the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Price Performance

The stock has a 50-day simple moving average of $46.94 and a 200 day simple moving average of $52.18. The company has a market cap of $1.23 billion, a PE ratio of 11.76 and a beta of 1.88. The company has a quick ratio of 0.58, a current ratio of 18.02 and a debt-to-equity ratio of 0.84.

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