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

LGI Homes (NASDAQ:LGIH - Free Report) had its target price lowered by JPMorgan Chase & Co. from $82.00 to $80.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the financial services provider's stock.

Several other research analysts have also commented on the stock. Wedbush reaffirmed a "neutral" rating and issued a $115.00 price target (down from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. JMP Securities restated a "market outperform" rating and issued a $160.00 target price on shares of LGI Homes in a research note on Friday.

LGI Homes Stock Up 3.3 %

Shares of LGIH stock traded up $2.79 during mid-day trading on Tuesday, reaching $87.24. 164,269 shares of the company were exchanged, compared to its average volume of 191,609. The company has a market capitalization of $2.05 billion, a P/E ratio of 10.46 and a beta of 2.02. The business's 50 day simple moving average is $99.32 and its 200 day simple moving average is $103.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. LGI Homes has a fifty-two week low of $82.94 and a fifty-two week high of $130.75.

LGI Homes (NASDAQ:LGIH - Get Free Report) last released its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company had revenue of $651.85 million during the quarter, compared to the consensus estimate of $645.27 million. During the same quarter in the previous year, the firm earned $2.84 EPS. The company's revenue was up 5.6% on a year-over-year basis. Research analysts predict that LGI Homes will post 8.72 earnings per share for the current year.

Hedge Funds Weigh In On LGI Homes

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. increased its stake in LGI Homes by 19.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 8,212 shares of the financial services provider's stock valued at $734,000 after buying an additional 1,357 shares during the period. JPMorgan Chase & Co. increased its stake in shares of LGI Homes by 131.4% during the third quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider's stock valued at $13,222,000 after acquiring an additional 63,346 shares during the period. Sanctuary Advisors LLC bought a new stake in LGI Homes during the third quarter worth approximately $334,000. Geode Capital Management LLC lifted its position in LGI Homes by 1.5% in the third quarter. Geode Capital Management LLC now owns 497,039 shares of the financial services provider's stock worth $58,920,000 after purchasing an additional 7,129 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its stake in LGI Homes by 3.7% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 939,504 shares of the financial services provider's stock valued at $111,350,000 after purchasing an additional 33,306 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.