JPMorgan Chase & Co. Issues Pessimistic Forecast for LGI Homes (NASDAQ:LGIH) Stock Price

LGI Homes (NASDAQ:LGIH) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $82.00 to $80.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 6.69% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Wedbush restated a “neutral” rating and set a $115.00 price objective (down previously from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and set a $160.00 target price on shares of LGI Homes in a research report on Friday.

LGI Homes Stock Up 1.5 %

NASDAQ:LGIH traded up $1.29 during midday trading on Tuesday, reaching $85.74. 28,040 shares of the stock traded hands, compared to its average volume of 174,020. The stock has a market capitalization of $2.02 billion, a PE ratio of 10.28 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 debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. The business has a 50-day moving average of $99.32 and a two-hundred day moving average of $103.72.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, beating 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 analyst estimates of $645.27 million. During the same quarter in the prior year, the business posted $2.84 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities analysts forecast that LGI Homes will post 8.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LGI Homes

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in LGI Homes by 131.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock worth $13,222,000 after buying an additional 63,346 shares during the last quarter. Denali Advisors LLC purchased a new position in shares of LGI Homes during the second quarter worth $993,000. Citigroup Inc. lifted its position in LGI Homes by 60.9% during the third quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider’s stock valued at $4,954,000 after purchasing an additional 15,818 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in LGI Homes by 5.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,232 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 176 shares during the last quarter. Finally, American Century Companies Inc. grew its position in LGI Homes by 21.3% during the 2nd quarter. American Century Companies Inc. now owns 29,358 shares of the financial services provider’s stock worth $2,627,000 after purchasing an additional 5,159 shares during the period. Hedge funds and other 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.