LGI Homes (NASDAQ:LGIH) Issues Earnings Results

LGI Homes (NASDAQ:LGIH) issued its earnings results on Tuesday. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18, Zacks reports. LGI Homes had a return on equity of 3.80% and a net margin of 4.22%.The business had revenue of $516.05 million during the quarter, compared to the consensus estimate of $489.23 million. During the same period in the prior year, the business posted $1.36 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis.

LGI Homes Price Performance

LGIH traded up $3.62 during midday trading on Tuesday, reaching $59.72. 152,983 shares of the company’s stock were exchanged, compared to its average volume of 427,063. The company has a debt-to-equity ratio of 0.81, a current ratio of 18.56 and a quick ratio of 0.70. The business’s 50-day moving average price is $56.36 and its 200 day moving average price is $50.22. LGI Homes has a 1-year low of $33.55 and a 1-year high of $69.50. The stock has a market capitalization of $1.39 billion, a PE ratio of 19.59 and a beta of 1.83.

Institutional Trading of LGI Homes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd lifted its stake in shares of LGI Homes by 75.5% during the third 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. Los Angeles Capital Management LLC purchased a new stake in LGI Homes in the 4th quarter worth approximately $29,000. Russell Investments Group Ltd. raised its holdings in LGI Homes by 106.6% in the 2nd 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. Kemnay Advisory Services Inc. acquired a new position in LGI Homes in the 4th quarter valued at $32,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of LGI Homes by 7,240.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,101 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,086 shares during the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on LGIH. Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a research report on Friday, May 22nd. Zacks Research raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of LGI Homes from $38.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Two 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, LGI Homes currently has an average rating of “Hold” and an average target price of $72.75.

About LGI Homes

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.