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

LGI Homes (NASDAQ:LGIH) had its price target reduced by JPMorgan Chase & Co. from $82.00 to $80.00 in a research note released 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 issued reports on the company. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price target (down previously from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a report on Friday, January 10th.

LGI Homes Price Performance

Shares of NASDAQ LGIH opened at $87.24 on Tuesday. The company has a 50 day simple moving average of $98.84 and a two-hundred day simple moving average of $103.70. LGI Homes has a fifty-two week low of $82.94 and a fifty-two week high of $130.75. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 10.46 and a beta of 2.02. 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 (NASDAQ:LGIH) last posted its quarterly earnings data 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 company had revenue of $651.85 million during the quarter, compared to analyst estimates of $645.27 million. During the same quarter last year, the company earned $2.84 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts expect that LGI Homes will post 8.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in LGI Homes during the 3rd quarter valued at $43,000. KBC Group NV grew its holdings in shares of LGI Homes by 29.8% in the third quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 168 shares during the period. CWM LLC increased its position in LGI Homes by 27.5% during the third quarter. CWM LLC now owns 867 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 187 shares during the last quarter. Heritage Family Offices LLP bought a new position in LGI Homes in the third quarter valued at about $218,000. Finally, HighTower Advisors LLC purchased a new position in LGI Homes in the third quarter worth about $229,000. Institutional investors 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.