LGI Homes (NASDAQ:LGIH) Shares Up 6.1% – Time to Buy?

Shares of LGI Homes, Inc. (NASDAQ:LGIH) rose 6.1% during trading on Tuesday . The stock traded as high as $54.33 and last traded at $54.65. Approximately 82,727 shares traded 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 Upgrades and Downgrades

Several research analysts recently weighed in on LGIH shares. Wedbush cut their price target on shares of LGI Homes from $100.00 to $93.00 and set a “neutral” rating on the stock in a report on Thursday, June 5th. JMP Securities reiterated a “market outperform” rating and set a $140.00 target price on shares of LGI Homes in a research note on Wednesday, April 30th.

LGI Homes Stock Performance

The company has a debt-to-equity ratio of 0.80, a current ratio of 16.58 and a quick ratio of 0.54. The stock has a market capitalization of $1.31 billion, a PE ratio of 7.21 and a beta of 1.78. The business’s fifty day moving average price is $53.19 and its 200-day moving average price is $69.69.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LGIH. Summit Investment Advisors Inc. grew its holdings in shares of LGI Homes by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider’s stock valued at $195,000 after buying an additional 141 shares during the last quarter. Mariner LLC lifted its holdings in shares of LGI Homes by 3.2% during the 4th quarter. Mariner LLC now owns 4,581 shares of the financial services provider’s stock valued at $410,000 after buying an additional 143 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of LGI Homes by 10.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,210 shares of the financial services provider’s stock worth $198,000 after buying an additional 212 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of LGI Homes by 8.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,023 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 245 shares during the period. Finally, Exencial Wealth Advisors LLC increased its position in LGI Homes by 8.0% during the first quarter. Exencial Wealth Advisors LLC now owns 3,621 shares of the financial services provider’s stock valued at $241,000 after acquiring an additional 269 shares during the last quarter. Hedge funds and other 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.