LGI Homes Inc (LGIH) Posts Quarterly Earnings Results

LGI Homes Inc (NASDAQ:LGIH) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. LGI Homes had a net margin of 8.68% and a return on equity of 23.66%. The business had revenue of $162.91 million for the quarter, compared to analysts’ expectations of $161.68 million. During the same period in the previous year, the business earned $0.57 earnings per share. The company’s revenue was up .3% on a year-over-year basis. LGI Homes updated its FY17 guidance to $4.00-4.50 EPS.

LGI Homes (NASDAQ:LGIH) traded up 1.44% during trading on Friday, reaching $32.46. The company’s stock had a trading volume of 156,610 shares. The stock’s 50 day moving average is $31.55 and its 200-day moving average is $30.87. LGI Homes has a 52 week low of $24.67 and a 52 week high of $40.47. The firm has a market cap of $701.10 million, a P/E ratio of 9.74 and a beta of 0.19.

Earnings History for LGI Homes (NASDAQ:LGIH)

A number of research analysts recently issued reports on LGIH shares. BTIG Research started coverage on LGI Homes in a report on Tuesday, February 7th. They set a “neutral” rating on the stock. Wells Fargo & Co cut LGI Homes from a “market perform” rating to an “underperform” rating in a research note on Monday, February 6th. Zacks Investment Research cut LGI Homes from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. Finally, Wedbush reissued a “neutral” rating and issued a $35.00 price target on shares of LGI Homes in a research note on Thursday, April 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.67.

In other LGI Homes news, insider Rachel Lyons Eaton sold 850 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $32.29, for a total transaction of $27,446.50. Following the completion of the sale, the insider now directly owns 27,526 shares of the company’s stock, valued at approximately $888,814.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jack Anthony Lipar sold 3,405 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $32.29, for a total value of $109,947.45. Following the completion of the transaction, the vice president now directly owns 62,955 shares of the company’s stock, valued at $2,032,816.95. The disclosure for this sale can be found here. Insiders sold a total of 37,735 shares of company stock valued at $1,200,463 over the last ninety days. 17.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. LS Investment Advisors LLC increased its position in LGI Homes by 414.6% in the first quarter. LS Investment Advisors LLC now owns 3,103 shares of the financial services provider’s stock valued at $105,000 after buying an additional 2,500 shares during the last quarter. Victory Capital Management Inc. increased its position in LGI Homes by 85.3% in the first quarter. Victory Capital Management Inc. now owns 3,090 shares of the financial services provider’s stock valued at $105,000 after buying an additional 1,422 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in LGI Homes by 14.2% in the first quarter. BNP Paribas Arbitrage SA now owns 3,238 shares of the financial services provider’s stock valued at $110,000 after buying an additional 402 shares during the last quarter. Mason Street Advisors LLC increased its position in LGI Homes by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,981 shares of the financial services provider’s stock valued at $135,000 after buying an additional 260 shares during the last quarter. Finally, Fortaleza Asset Management Inc. purchased a new position in LGI Homes during the first quarter valued at approximately $141,000. Institutional investors and hedge funds own 82.09% of the company’s stock.

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LGI Homes Company Profile

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.

12 Month Chart for NASDAQ:LGIH

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