LGI Homes, Inc. (LGIH) Sets New 1-Year High Following Strong Earnings

LGI Homes, Inc. (NASDAQ:LGIH) shares reached a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $48.48 and last traded at $48.48, with a volume of 722,849 shares changing hands. The stock had previously closed at $47.84.

The financial services provider reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.12. The company had revenue of $324.20 million during the quarter, compared to the consensus estimate of $317.63 million. LGI Homes had a net margin of 8.95% and a return on equity of 22.09%. LGI Homes’s quarterly revenue was up 45.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 EPS.

A number of analysts have commented on LGIH shares. Zacks Investment Research upgraded shares of LGI Homes from a “hold” rating to a “strong-buy” rating and set a $49.00 price objective for the company in a report on Tuesday, July 18th. ValuEngine downgraded shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Wells Fargo & Company upgraded shares of LGI Homes from an “underperform” rating to a “market perform” rating and set a $33.00 price objective for the company in a report on Tuesday, May 16th. Wedbush reiterated a “neutral” rating and issued a $35.00 price objective on shares of LGI Homes in a report on Tuesday, July 4th. Finally, BidaskClub upgraded shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. LGI Homes currently has a consensus rating of “Buy” and an average target price of $39.00.

In other news, CEO Eric Thomas Lipar sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $42.59, for a total transaction of $425,900.00. Following the completion of the sale, the chief executive officer now owns 524,175 shares in the company, valued at approximately $22,324,613.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.60% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Frontier Capital Management Co. LLC increased its stake in shares of LGI Homes by 4.3% in the second quarter. Frontier Capital Management Co. LLC now owns 1,837,651 shares of the financial services provider’s stock worth $73,837,000 after buying an additional 75,115 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of LGI Homes by 5.7% in the first quarter. Vanguard Group Inc. now owns 849,255 shares of the financial services provider’s stock worth $28,798,000 after buying an additional 45,728 shares in the last quarter. Neumeier Poma Investment Counsel LLC increased its stake in shares of LGI Homes by 30.6% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 787,550 shares of the financial services provider’s stock worth $26,706,000 after buying an additional 184,750 shares in the last quarter. Heartland Advisors Inc. increased its stake in shares of LGI Homes by 3.7% in the second quarter. Heartland Advisors Inc. now owns 727,800 shares of the financial services provider’s stock worth $29,243,000 after buying an additional 25,800 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of LGI Homes by 34.0% in the second quarter. Bank of New York Mellon Corp now owns 274,296 shares of the financial services provider’s stock worth $11,021,000 after buying an additional 69,653 shares in the last quarter. Institutional investors and hedge funds own 87.66% of the company’s stock.

The stock has a market capitalization of $994.85 million, a price-to-earnings ratio of 13.83 and a beta of 0.07. The stock has a 50 day moving average price of $41.70 and a 200 day moving average price of $34.09.

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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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