LGI Homes (NASDAQ:LGIH) Shares Up 7% – Still a Buy?

LGI Homes, Inc. (NASDAQ:LGIH)’s share price traded up 7% during trading on Tuesday . The stock traded as high as $112.39 and last traded at $110.77. 110,194 shares changed hands during trading, a decline of 48% from the average session volume of 210,321 shares. The stock had previously closed at $103.54.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Wedbush reiterated a “neutral” rating and set a $125.00 target price on shares of LGI Homes in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, LGI Homes currently has an average rating of “Hold” and a consensus price target of $126.00.

LGI Homes Stock Performance

The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 12.63. The stock’s 50-day moving average is $110.42 and its 200 day moving average is $102.39. The firm has a market cap of $2.61 billion, a P/E ratio of 13.36 and a beta of 1.97.

Institutional Trading of LGI Homes

Large investors have recently made changes to their positions in the company. First Horizon Advisors Inc. increased its position in shares of LGI Homes by 32.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock valued at $39,000 after buying an additional 108 shares in the last quarter. Innealta Capital LLC acquired a new position in LGI Homes in the 2nd quarter worth $39,000. Allspring Global Investments Holdings LLC acquired a new position in LGI Homes in the 3rd quarter worth $43,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in LGI Homes in the 1st quarter worth $52,000. Finally, CWM LLC boosted its stake in LGI Homes by 27.5% in the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 187 shares during the period. Institutional investors own 84.89% of the company’s stock.

LGI Homes Company Profile

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.