JPMorgan Chase & Co. Cuts LGI Homes (NASDAQ:LGIH) Price Target to $80.00

LGI Homes (NASDAQ:LGIH) had its price objective trimmed by JPMorgan Chase & Co. from $82.00 to $80.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an underweight rating on the financial services provider’s stock.

LGIH has been the topic of a number of other reports. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective (down from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. JMP Securities restated a “market outperform” rating and set a $160.00 price target on shares of LGI Homes in a report on Friday, January 10th.

LGI Homes Price Performance

Shares of NASDAQ:LGIH opened at $93.49 on Tuesday. The company’s fifty day moving average is $98.17 and its two-hundred day moving average is $103.55. The company has a market cap of $2.20 billion, a P/E ratio of 11.21 and a beta of 2.02. LGI Homes has a 12-month low of $82.94 and a 12-month high of $130.75. 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 announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.41. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The firm had revenue of $651.85 million during the quarter, compared to the consensus estimate of $645.27 million. During the same period in the prior year, the business earned $2.84 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts expect that LGI Homes will post 8.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LGI Homes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of LGI Homes during the 3rd quarter worth $43,000. KBC Group NV increased its position in LGI Homes by 29.8% during the third quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after buying an additional 168 shares during the last quarter. CWM LLC raised its holdings in 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 buying an additional 187 shares in the last quarter. Heritage Family Offices LLP acquired a new stake in shares of LGI Homes in the third quarter worth about $218,000. Finally, HighTower Advisors LLC bought a new stake in shares of LGI Homes during the 3rd quarter worth about $229,000. 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.