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

LGI Homes, Inc. (NASDAQ:LGIH - Get Free Report) shot up 7% on Tuesday . The stock traded as high as $112.39 and last traded at $110.77. 110,194 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 210,321 shares. The stock had previously closed at $103.54.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LGIH. Wedbush reiterated a "neutral" rating and issued a $125.00 target price on shares of LGI Homes in a research note on Friday, October 4th. JPMorgan Chase & Co. cut their price target on shares of LGI Homes from $95.00 to $93.00 and set an "underweight" rating for the company in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $126.00.

LGI Homes Trading Up 7.4 %

The company has a market cap of $2.61 billion, a price-to-earnings ratio of 13.36 and a beta of 1.97. The company's fifty day moving average price is $110.42 and its two-hundred day moving average price is $102.39. The company has a quick ratio of 0.49, a current ratio of 12.63 and a debt-to-equity ratio of 0.78.

Institutional Trading of LGI Homes

Several hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in LGI Homes by 28.6% in the 1st quarter. BNP Paribas Financial Markets now owns 34,290 shares of the financial services provider's stock worth $3,990,000 after purchasing an additional 7,616 shares during the last quarter. Janney Montgomery Scott LLC raised its position in LGI Homes by 23.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,334 shares of the financial services provider's stock worth $272,000 after purchasing an additional 444 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in LGI Homes in the 1st quarter worth approximately $52,000. GSA Capital Partners LLP bought a new position in LGI Homes in the 1st quarter worth approximately $1,298,000. Finally, Texas Permanent School Fund Corp raised its position in LGI Homes by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 17,942 shares of the financial services provider's stock worth $2,088,000 after purchasing an additional 233 shares during the last quarter. Institutional investors and hedge funds own 84.89% of the company's stock.

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.

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