LGI Homes (NASDAQ:LGIH) Trading 6.1% Higher - Should You Buy?

Shares of LGI Homes, Inc. (NASDAQ:LGIH - Get Free Report) rose 6.1% during mid-day trading on Tuesday . The stock traded as high as $54.33 and last traded at $54.65. Approximately 82,727 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 256,448 shares. The stock had previously closed at $51.52.

Analyst Ratings Changes

LGIH has been the topic of a number of research analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $140.00 target price on shares of LGI Homes in a research report on Wednesday, April 30th. Wedbush decreased their price objective on LGI Homes from $100.00 to $93.00 and set a "neutral" rating on the stock in a report on Thursday, June 5th.

LGI Homes Stock Down 2.8%

The business's 50 day simple moving average is $52.90 and its 200 day simple moving average is $69.18. The company has a current ratio of 16.58, a quick ratio of 0.54 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $1.29 billion, a PE ratio of 7.10 and a beta of 1.76.

LGI Homes (NASDAQ:LGIH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.29). The business had revenue of $351.42 million during the quarter, compared to the consensus estimate of $380.07 million. LGI Homes had a net margin of 8.46% and a return on equity of 9.49%. The firm's revenue was down 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 EPS. On average, equities research analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Hedge Funds Weigh In On LGI Homes

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in LGI Homes by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 2,274,907 shares of the financial services provider's stock valued at $203,377,000 after buying an additional 54,039 shares during the period. Northern Trust Corp raised its stake in shares of LGI Homes by 11.5% in the fourth quarter. Northern Trust Corp now owns 219,547 shares of the financial services provider's stock valued at $19,628,000 after acquiring an additional 22,615 shares during the period. River Road Asset Management LLC lifted its holdings in shares of LGI Homes by 30.6% in the 4th quarter. River Road Asset Management LLC now owns 907,923 shares of the financial services provider's stock worth $81,168,000 after acquiring an additional 212,468 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of LGI Homes during the 4th quarter worth about $15,507,000. Finally, Squarepoint Ops LLC bought a new position in LGI Homes during the 4th quarter valued at about $3,227,000. Hedge funds and other institutional investors own 84.89% of the company's stock.

About LGI Homes

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.