JPMorgan Chase & Co. Lowers LGI Homes (NASDAQ:LGIH) Price Target to $82.00

LGI Homes (NASDAQ:LGIH) had its target price cut by JPMorgan Chase & Co. from $100.00 to $82.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

Separately, Wedbush restated a “neutral” rating and issued a $125.00 price target on shares of LGI Homes in a research report on Wednesday, November 6th.

LGI Homes Stock Performance

Shares of LGI Homes stock opened at $99.85 on Friday. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 11.97 and a beta of 1.99. LGI Homes has a twelve month low of $84.00 and a twelve month high of $136.89. The company’s fifty day moving average is $107.15 and its 200 day moving average is $104.29. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.41. The company had revenue of $651.85 million during the quarter, compared to analysts’ expectations of $645.27 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.84 earnings per share. Sell-side analysts forecast that LGI Homes will post 8.72 EPS for the current year.

Institutional Investors Weigh In On LGI Homes

Several institutional investors and hedge funds have recently made changes to their positions in the business. Innealta Capital LLC bought a new position in shares of LGI Homes during the 2nd quarter worth approximately $39,000. First Horizon Advisors Inc. boosted its stake in LGI Homes by 32.5% during the second quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 108 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in LGI Homes in the third quarter worth $43,000. KBC Group NV increased its stake in LGI Homes by 29.8% in the third quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 168 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of LGI Homes by 27.5% during the third quarter. CWM LLC now owns 867 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 187 shares during the period. Institutional investors 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.