LGI Homes (NASDAQ:LGIH) posted its earnings results on Tuesday. The financial services provider reported $1.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.20, Briefing.com reports. The company had revenue of $461.83 million during the quarter, compared to the consensus estimate of $465.08 million. LGI Homes had a net margin of 9.67% and a return on equity of 23.28%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 earnings per share. LGI Homes updated its FY 2019 guidance to $7.00-8.00 EPS.
Shares of NASDAQ LGIH traded up $0.56 during trading hours on Thursday, hitting $75.36. 43,028 shares of the stock were exchanged, compared to its average volume of 228,851. The company has a quick ratio of 1.35, a current ratio of 16.86 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average is $71.76. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 11.87 and a beta of 0.56. LGI Homes has a one year low of $37.16 and a one year high of $77.50.
Several analysts have commented on the stock. BTIG Research downgraded shares of LGI Homes from a “neutral” rating to a “sell” rating and set a $62.00 target price for the company. in a research report on Wednesday. BidaskClub raised shares of LGI Homes from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research raised shares of LGI Homes from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Wednesday, July 17th. Wells Fargo & Co boosted their target price on shares of LGI Homes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Finally, ValuEngine downgraded shares of LGI Homes from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. LGI Homes currently has a consensus rating of “Buy” and a consensus price target of $69.58.
In related news, Director Steven Randal Smith sold 2,500 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $74.49, for a total transaction of $186,225.00. Following the completion of the transaction, the director now directly owns 12,407 shares in the company, valued at approximately $924,197.43. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric Thomas Lipar sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $70.91, for a total transaction of $709,100.00. Following the transaction, the chief executive officer now owns 544,509 shares of the company’s stock, valued at $38,611,133.19. The disclosure for this sale can be found here. 13.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in LGIH. Macquarie Group Ltd. raised its stake in LGI Homes by 514.4% during the 4th quarter. Macquarie Group Ltd. now owns 3,883 shares of the financial services provider’s stock valued at $176,000 after purchasing an additional 3,251 shares during the last quarter. Psagot Investment House Ltd. acquired a new position in shares of LGI Homes in the 2nd quarter valued at $186,000. NEXT Financial Group Inc acquired a new position in shares of LGI Homes in the 2nd quarter valued at $198,000. Janus Henderson Group PLC acquired a new position in shares of LGI Homes in the 2nd quarter valued at $208,000. Finally, 6 Meridian acquired a new position in shares of LGI Homes in the 1st quarter valued at $217,000. Hedge funds and other institutional investors own 94.24% of the company’s stock.
About LGI Homes
LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.
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