LGI Homes Inc. (LGIH) Coverage Initiated by Analysts at Wells Fargo & Co.
Several other analysts have also recently weighed in on LGIH. JMP Securities restated a buy rating on shares of LGI Homes in a report on Saturday, July 9th. Zacks Investment Research cut LGI Homes from a hold rating to a sell rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. LGI Homes currently has an average rating of Buy and an average target price of $36.33.
LGI Homes (NASDAQ:LGIH) opened at 36.73 on Wednesday. The firm has a market capitalization of $772.17 million, a PE ratio of 12.13 and a beta of -0.03. The company’s 50-day moving average is $36.19 and its 200 day moving average is $30.64. LGI Homes has a 1-year low of $18.74 and a 1-year high of $40.47.
LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.09. The company had revenue of $222.72 million for the quarter, compared to analysts’ expectations of $219.52 million. LGI Homes had a return on equity of 24.52% and a net margin of 8.63%. The business’s quarterly revenue was up 40.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 earnings per share. On average, equities analysts expect that LGI Homes will post $3.40 EPS for the current fiscal year.
In other news, insider Eric Thomas Lipar sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $36.66, for a total transaction of $366,600.00. Following the transaction, the insider now directly owns 528,933 shares of the company’s stock, valued at $19,390,683.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 17.50% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Icon Advisers Inc. Co. purchased a new position in shares of LGI Homes during the first quarter worth $1,133,000. Cornerstone Financial Partners LLC purchased a new position in shares of LGI Homes during the first quarter worth $463,000. Palisade Capital Management LLC NJ raised its position in shares of LGI Homes by 41.5% in the first quarter. Palisade Capital Management LLC NJ now owns 116,880 shares of the company’s stock worth $2,830,000 after buying an additional 34,300 shares during the last quarter. Capital Growth Management LP raised its position in shares of LGI Homes by 17.6% in the first quarter. Capital Growth Management LP now owns 835,000 shares of the company’s stock worth $20,215,000 after buying an additional 125,000 shares during the last quarter. Finally, Covalent Partners LLC raised its position in shares of LGI Homes by 8.8% in the first quarter. Covalent Partners LLC now owns 446,803 shares of the company’s stock worth $10,817,000 after buying an additional 35,992 shares during the last quarter. 66.98% of the stock is currently owned by institutional investors.
About LGI Homes
LGI Homes, Inc is a homebuilder. 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 has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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