LGI Homes (NASDAQ:LGIH) Trading 9.4% Higher - What's Next?

LGI Homes, Inc. (NASDAQ:LGIH - Get Free Report)'s stock price was up 9.4% during mid-day trading on Tuesday . The stock traded as high as $56.00 and last traded at $55.87. Approximately 53,614 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 260,431 shares. The stock had previously closed at $51.09.

Analyst Ratings Changes

LGIH has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on shares of LGI Homes from $52.00 to $47.00 and set an "underweight" rating for the company in a research report on Wednesday, July 9th. JMP Securities reiterated a "market outperform" rating and set a $140.00 price objective on shares of LGI Homes in a report on Wednesday, April 30th. Finally, Wedbush reissued a "neutral" rating and set a $93.00 target price on shares of LGI Homes in a research report on Monday, July 7th.

LGI Homes Trading Down 1.1%

The company has a market cap of $1.35 billion, a P/E ratio of 7.43 and a beta of 1.76. The company has a quick ratio of 0.54, a current ratio of 16.58 and a debt-to-equity ratio of 0.80. The firm's 50-day moving average price is $52.32 and its 200-day moving average price is $65.48.

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

Institutional Trading of LGI Homes

A number of hedge funds have recently bought and sold shares of LGIH. Wealth Enhancement Advisory Services LLC increased its holdings in shares of LGI Homes by 213.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,234 shares of the financial services provider's stock worth $680,000 after buying an additional 6,970 shares during the period. Vanguard Group Inc. grew its position 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 worth $203,377,000 after acquiring an additional 54,039 shares during the last quarter. GAMMA Investing LLC increased its stake in LGI Homes by 219.1% in the 1st quarter. GAMMA Investing LLC now owns 887 shares of the financial services provider's stock worth $59,000 after purchasing an additional 609 shares during the period. Northern Trust Corp lifted its position in 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 purchasing an additional 22,615 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of LGI Homes by 22.4% during the first quarter. Janney Montgomery Scott LLC now owns 3,406 shares of the financial services provider's stock valued at $226,000 after purchasing an additional 623 shares during the period. Institutional investors own 84.89% of the company's stock.

LGI Homes Company Profile

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.