LGI Homes (LGIH) Sets New 1-Year High at $75.53

Shares of LGI Homes Inc (NASDAQ:LGIH) reached a new 52-week high during trading on Wednesday . The stock traded as high as $75.53 and last traded at $72.99, with a volume of 125300 shares trading hands. The stock had previously closed at $72.66.

Several analysts have recently commented on the stock. Zacks Investment Research raised shares of LGI Homes from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective on the stock in a report on Wednesday, October 11th. TheStreet raised shares of LGI Homes from a “c+” rating to a “b-” rating in a report on Monday, November 13th. Wedbush downgraded shares of LGI Homes from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $55.00 to $49.00 in a report on Tuesday, October 3rd. ValuEngine raised shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 30th. Finally, JMP Securities upped their price objective on shares of LGI Homes from $62.00 to $68.00 and gave the company a “market outperform” rating in a report on Wednesday, November 8th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $54.33.

The stock has a market capitalization of $1,580.00, a price-to-earnings ratio of 16.94, a PEG ratio of 1.45 and a beta of 0.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 8.91 and a quick ratio of 0.86.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.10. LGI Homes had a net margin of 9.26% and a return on equity of 25.51%. The firm had revenue of $365.90 million for the quarter, compared to the consensus estimate of $355.81 million. During the same period in the prior year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. sell-side analysts expect that LGI Homes Inc will post 4.57 EPS for the current fiscal year.

In other LGI Homes news, insider Michael Larry Snider sold 20,000 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $62.75, for a total transaction of $1,255,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bryan Christopher Sansbury sold 23,101 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $63.28, for a total transaction of $1,461,831.28. The disclosure for this sale can be found here. Insiders have sold 68,101 shares of company stock worth $4,073,581 over the last three months. 13.60% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Atlantic Trust Group LLC acquired a new stake in shares of LGI Homes in the third quarter valued at about $1,250,000. Jane Street Group LLC acquired a new stake in shares of LGI Homes in the third quarter valued at about $323,000. Boothbay Fund Management LLC acquired a new stake in shares of LGI Homes in the third quarter valued at about $1,228,000. Stifel Financial Corp acquired a new stake in shares of LGI Homes in the third quarter valued at about $216,000. Finally, Dimensional Fund Advisors LP raised its position in shares of LGI Homes by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 60,908 shares of the financial services provider’s stock valued at $2,958,000 after buying an additional 1,179 shares during the last quarter. 91.80% of the stock is currently owned by institutional investors and hedge funds.

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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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