LGI Homes (NASDAQ:LGIH) PT Lowered to $93.00

LGI Homes (NASDAQ:LGIH) had its target price cut by investment analysts at JPMorgan Chase & Co. from $95.00 to $93.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 6.95% from the stock’s current price.

Several other analysts have also issued reports on LGIH. StockNews.com lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Wedbush reiterated an “underperform” rating and issued a $74.00 target price on shares of LGI Homes in a research report on Thursday, June 6th. Finally, JMP Securities restated a “market outperform” rating and set a $160.00 price target on shares of LGI Homes in a research report on Friday, April 5th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, LGI Homes has an average rating of “Hold” and a consensus target price of $107.50.

LGI Homes Stock Performance

Shares of NASDAQ LGIH opened at $99.95 on Wednesday. The company has a market capitalization of $2.36 billion, a PE ratio of 12.49 and a beta of 1.92. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.43 and a current ratio of 12.36. The company’s fifty day moving average price is $94.59 and its 200 day moving average price is $107.23. LGI Homes has a 1 year low of $84.00 and a 1 year high of $141.91.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.30). LGI Homes had a return on equity of 10.43% and a net margin of 8.37%. The business had revenue of $390.90 million for the quarter, compared to analysts’ expectations of $400.00 million. During the same quarter in the prior year, the company posted $1.14 EPS. The business’s revenue for the quarter was down 19.8% compared to the same quarter last year. On average, research analysts predict that LGI Homes will post 8.95 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LGIH. GAMMA Investing LLC purchased a new stake in LGI Homes during the fourth quarter worth approximately $38,000. First Horizon Advisors Inc. raised its holdings in shares of LGI Homes by 35.8% in the fourth quarter. First Horizon Advisors Inc. now owns 353 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 93 shares during the last quarter. Mather Group LLC. acquired a new position in LGI Homes in the 1st quarter valued at about $47,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in LGI Homes in the 1st quarter valued at about $52,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of LGI Homes during the 4th quarter worth about $71,000. Hedge funds and other 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.