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

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

Several other equities analysts have also recently commented on LGIH. JMP Securities reiterated a “market outperform” rating and set a $160.00 target price on shares of LGI Homes in a research note on Friday, January 10th. Wedbush reiterated a “neutral” rating and issued a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th.

LGI Homes Stock Up 1.2 %

LGIH stock opened at $93.49 on Tuesday. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 11.21 and a beta of 2.02. The company has a 50-day moving average of $98.17 and a two-hundred day moving average of $103.55. LGI Homes has a 52-week low of $82.94 and a 52-week high of $130.75. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54.

LGI Homes (NASDAQ:LGIH) last released 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. 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 for the quarter, compared to analyst estimates of $645.27 million. During the same quarter last year, the firm posted $2.84 EPS. The company’s revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts anticipate that LGI Homes will post 8.53 EPS for the current year.

Hedge Funds Weigh In On LGI Homes

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