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

LGI Homes (NASDAQ:LGIH) had its price target dropped by JPMorgan Chase & Co. from $82.00 to $80.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 13.38% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. JMP Securities reissued a “market outperform” rating and issued a $160.00 price target on shares of LGI Homes in a report on Friday, January 10th. Wedbush reissued a “neutral” rating and issued a $115.00 target price (down from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th.

LGI Homes Stock Performance

NASDAQ LGIH opened at $92.36 on Tuesday. The company has a market capitalization of $2.17 billion, a P/E ratio of 11.07 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 has a 52-week low of $82.94 and a 52-week high of $130.75. The company has a fifty day moving average of $98.49 and a 200-day moving average of $103.62.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.41. The business had revenue of $651.85 million for the quarter, compared to analysts’ expectations of $645.27 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.84 EPS. As a group, equities research analysts predict that LGI Homes will post 8.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LGIH. Allspring Global Investments Holdings LLC purchased a new position in shares of LGI Homes during the third quarter valued at about $43,000. KBC Group NV boosted its position in LGI Homes by 29.8% during the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 168 shares in the last quarter. CWM LLC grew 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 worth $103,000 after acquiring an additional 187 shares during the period. Heritage Family Offices LLP bought a new position in shares of LGI Homes in the 3rd quarter worth approximately $218,000. Finally, HighTower Advisors LLC purchased a new position in shares of LGI Homes in the 3rd quarter valued at approximately $229,000. 84.89% of the stock is currently owned by institutional investors.

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.