LGI Homes (NASDAQ:LGIH) Given New $82.00 Price Target at JPMorgan Chase & Co.

LGI Homes (NASDAQ:LGIH) had its price objective dropped by equities 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 brokerage presently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 19.91% from the stock’s previous close.

Separately, Wedbush reaffirmed a “neutral” rating and issued a $125.00 price objective on shares of LGI Homes in a research note on Wednesday, November 6th.

LGI Homes Price Performance

Shares of LGIH stock opened at $102.39 on Friday. The company’s 50-day simple moving average is $107.39 and its two-hundred day simple moving average is $104.11. 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 has a one year low of $84.00 and a one year high of $136.89. The company has a market capitalization of $2.41 billion, a P/E ratio of 12.28 and a beta of 1.99.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share 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 business had revenue of $651.85 million during the quarter, compared to analyst estimates of $645.27 million. During the same period in the previous year, the company posted $2.84 EPS. LGI Homes’s revenue was up 5.6% on a year-over-year basis. As a group, equities analysts anticipate that LGI Homes will post 8.72 EPS for the current year.

Hedge Funds Weigh In On LGI Homes

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of LGI Homes in the 3rd quarter valued at about $43,000. Innealta Capital LLC purchased a new stake in LGI Homes during the second quarter valued at approximately $39,000. First Horizon Advisors Inc. boosted its stake in LGI Homes by 32.5% in the second quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 108 shares in the last quarter. KBC Group NV increased its position in shares of 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 purchasing an additional 168 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of LGI Homes by 27.5% during the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 187 shares during the last quarter. 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.