LGI Homes, Inc. (NASDAQ:LGIH) shares reached a new 52-week high on Wednesday after Wedbush raised their price target on the stock from $110.00 to $135.00. Wedbush currently has a neutral rating on the stock. LGI Homes traded as high as $157.50 and last traded at $155.95, with a volume of 964 shares traded. The stock had previously closed at $155.19.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised LGI Homes from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Thursday, February 25th. Wolfe Research started coverage on shares of LGI Homes in a report on Tuesday, March 16th. They issued a “market perform” rating for the company. UBS Group began coverage on shares of LGI Homes in a research report on Tuesday, December 8th. They issued a “buy” rating and a $140.00 price target for the company. Finally, KeyCorp assumed coverage on shares of LGI Homes in a research note on Monday, February 22nd. They set a “sector weight” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. LGI Homes currently has a consensus rating of “Hold” and an average target price of $120.86.

In other LGI Homes news, COO Michael Larry Snider sold 3,340 shares of LGI Homes stock in a transaction that occurred on Friday, March 26th. The stock was sold at an average price of $150.40, for a total value of $502,336.00. Following the sale, the chief operating officer now owns 23,595 shares of the company’s stock, valued at approximately $3,548,688. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Charles Michael Merdian sold 9,346 shares of the company’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $138.58, for a total value of $1,295,168.68. Following the sale, the chief financial officer now directly owns 115,562 shares in the company, valued at $16,014,581.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,092 shares of company stock worth $10,099,846. 12.00% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of LGI Homes by 3.6% in the 4th quarter. BlackRock Inc. now owns 3,607,216 shares of the financial services provider’s stock worth $381,825,000 after buying an additional 126,522 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of LGI Homes by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 612,588 shares of the financial services provider’s stock valued at $64,845,000 after acquiring an additional 4,106 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in LGI Homes by 62.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 395,181 shares of the financial services provider’s stock worth $41,830,000 after acquiring an additional 152,326 shares in the last quarter. Norges Bank bought a new stake in LGI Homes during the fourth quarter worth approximately $25,862,000. Finally, Morgan Stanley raised its position in LGI Homes by 82.7% during the fourth quarter. Morgan Stanley now owns 176,461 shares of the financial services provider’s stock valued at $18,679,000 after purchasing an additional 79,883 shares during the period. Institutional investors own 89.12% of the company’s stock.

The stock has a market cap of $3.85 billion, a PE ratio of 15.61 and a beta of 1.45. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 12.91. The stock has a fifty day moving average price of $133.37 and a 200 day moving average price of $117.34.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, February 23rd. The financial services provider reported $5.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.94 by $1.24. LGI Homes had a net margin of 12.15% and a return on equity of 24.77%. The business had revenue of $897.40 million for the quarter, compared to the consensus estimate of $594.33 million. During the same quarter in the prior year, the firm posted $2.52 earnings per share. The business’s revenue for the quarter was up 48.2% on a year-over-year basis. As a group, equities analysts anticipate that LGI Homes, Inc. will post 10.27 earnings per share for the current fiscal year.

About LGI Homes (NASDAQ:LGIH)

LGI Homes, Inc designs, constructs, and sells homes in the United States. It offers entry-level homes, such as detached and attached homes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. As of December 31, 2020, it owned 113 communities. The company serves in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, Nevada, West Virginia, Virginia, and Pennsylvania.

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