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

LGI Homes (NASDAQ:LGIH - Get Free Report) had its price target reduced by research analysts at JPMorgan Chase & Co. from $100.00 to $82.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "underweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price suggests a potential downside of 17.88% from the company's previous close.

Separately, Wedbush reiterated a "neutral" rating and set a $125.00 target price on shares of LGI Homes in a research report on Wednesday, November 6th.

LGI Homes Price Performance

Shares of NASDAQ:LGIH traded down $2.54 on Friday, reaching $99.85. 306,546 shares of the company were exchanged, compared to its average volume of 207,884. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. LGI Homes has a 1-year low of $84.00 and a 1-year high of $136.89. The company has a 50-day moving average of $107.39 and a 200-day moving average of $104.11. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 12.28 and a beta of 1.99.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 8.75% and a return on equity of 10.32%. The firm's quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company posted $2.84 earnings per share. Equities analysts forecast that LGI Homes will post 8.72 earnings per share for the current fiscal year.

Institutional Trading of LGI Homes

Several large investors have recently modified their holdings of LGIH. Altshuler Shaham Ltd boosted its stake in shares of LGI Homes by 5,860.2% during the second quarter. Altshuler Shaham Ltd now owns 454,760 shares of the financial services provider's stock valued at $40,696,000 after acquiring an additional 447,130 shares during the last quarter. Khrom Capital Management LLC purchased a new position in LGI Homes in the 2nd quarter valued at about $21,477,000. River Road Asset Management LLC lifted its holdings in LGI Homes by 45.9% in the 3rd quarter. River Road Asset Management LLC now owns 695,455 shares of the financial services provider's stock valued at $82,425,000 after purchasing an additional 218,923 shares in the last quarter. Holocene Advisors LP boosted its stake in shares of LGI Homes by 386.2% during the 3rd quarter. Holocene Advisors LP now owns 130,968 shares of the financial services provider's stock worth $15,522,000 after purchasing an additional 104,030 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of LGI Homes by 51.8% during the second quarter. Marshall Wace LLP now owns 269,798 shares of the financial services provider's stock worth $24,144,000 after buying an additional 92,081 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

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.