LGI Homes (NASDAQ:LGIH) Stock Crosses Above 50 Day Moving Average – What’s Next?

LGI Homes, Inc. (NASDAQ:LGIH) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $53.12 and traded as high as $62.00. LGI Homes shares last traded at $61.04, with a volume of 213,936 shares trading hands.

Analyst Upgrades and Downgrades

LGIH has been the subject of several research reports. Zacks Research raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. increased their price target on LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Wall Street Zen upgraded LGI Homes from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of LGI Homes in a research note on Friday, May 22nd. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, LGI Homes presently has a consensus rating of “Hold” and an average price target of $72.75.

LGI Homes Price Performance

The stock has a 50 day moving average of $53.35 and a 200-day moving average of $49.26. The company has a current ratio of 18.56, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $1.36 billion, a P/E ratio of 19.17 and a beta of 1.82.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.22. The business had revenue of $319.74 million for the quarter, compared to analyst estimates of $328.22 million. LGI Homes had a return on equity of 3.80% and a net margin of 4.22%.The business’s revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share.

Institutional Investors Weigh In On LGI Homes

Several large investors have recently added to or reduced their stakes in LGIH. Caitong International Asset Management Co. Ltd increased its position in shares of LGI Homes by 75.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 237 shares during the period. Los Angeles Capital Management LLC bought a new position in LGI Homes in the fourth quarter worth approximately $29,000. Russell Investments Group Ltd. grew its stake in LGI Homes by 106.6% in 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. Kemnay Advisory Services Inc. purchased a new position in LGI Homes during the 4th quarter worth $32,000. Finally, Rockefeller Capital Management L.P. raised its position in LGI Homes by 1,759.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 827 shares in the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Company Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.