LGI Homes (NASDAQ:LGIH) Releases Earnings Results, Misses Expectations By $0.09 EPS

LGI Homes (NASDAQ:LGIH) released its quarterly earnings results on Tuesday. The financial services provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.09), Zacks reports. The firm had revenue of $396.63 million during the quarter, compared to analyst estimates of $421.66 million. LGI Homes had a return on equity of 8.00% and a net margin of 7.63%.

LGI Homes Price Performance

LGIH traded up $4.10 during midday trading on Wednesday, reaching $48.55. 248,057 shares of the company’s stock were exchanged, compared to its average volume of 347,072. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 7.29 and a beta of 1.77. The business has a 50-day simple moving average of $52.58 and a two-hundred day simple moving average of $54.33. The company has a quick ratio of 0.64, a current ratio of 18.18 and a debt-to-equity ratio of 0.85. LGI Homes has a one year low of $39.70 and a one year high of $114.56.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on LGI Homes from $47.00 to $48.50 and gave the stock an “underweight” rating in a research note on Tuesday, October 14th. Capital One Financial set a $60.00 price target on LGI Homes in a research note on Thursday, October 9th. JMP Securities lifted their target price on LGI Homes from $75.00 to $85.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 27th. Wedbush reissued a “neutral” rating and set a $95.00 target price on shares of LGI Homes in a report on Monday, October 6th. Finally, Citigroup restated a “market outperform” rating on shares of LGI Homes in a research report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $72.13.

Hedge Funds Weigh In On LGI Homes

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in shares of LGI Homes by 106.6% during the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 305 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of LGI Homes by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,502 shares of the financial services provider’s stock worth $831,000 after purchasing an additional 621 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of LGI Homes by 18.1% during the second quarter. Captrust Financial Advisors now owns 5,634 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 865 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of LGI Homes by 5.2% during the second quarter. CANADA LIFE ASSURANCE Co now owns 17,874 shares of the financial services provider’s stock worth $922,000 after purchasing an additional 881 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of LGI Homes by 17.6% during the second quarter. BNP Paribas Financial Markets now owns 8,677 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 1,299 shares in the last quarter. 84.89% of the stock is owned by institutional investors.

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.