JPMorgan Chase & Co. Has Lowered Expectations for LGI Homes (NASDAQ:LGIH) Stock Price

LGI Homes (NASDAQ:LGIH) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $100.00 to $82.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 17.88% from the company’s previous close.

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

LGI Homes Trading Down 2.5 %

LGIH stock opened at $99.85 on Friday. LGI Homes has a one year low of $84.00 and a one year high of $136.89. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 11.97 and a beta of 1.99. The company has a fifty day moving average price of $107.15 and a two-hundred day moving average price of $104.21. 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 announced its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business had revenue of $651.85 million during the quarter, compared to the consensus estimate of $645.27 million. During the same quarter in the previous year, the firm posted $2.84 EPS. LGI Homes’s revenue was up 5.6% compared to the same quarter last year. Equities analysts anticipate that LGI Homes will post 8.72 EPS for the current year.

Institutional Investors Weigh In On LGI Homes

Several institutional investors and hedge funds have recently bought and sold shares of LGIH. Louisiana State Employees Retirement System raised its holdings in shares of LGI Homes by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the financial services provider’s stock worth $922,000 after buying an additional 100 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of LGI Homes by 32.5% in the second quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 108 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of LGI Homes by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 5,940 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 112 shares in the last quarter. KBC Group NV grew its holdings in shares of 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 purchasing an additional 168 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in LGI Homes by 5.8% in the 3rd 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. 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.