LGI Homes (NASDAQ:LGIH) Price Target Cut to $82.00 by Analysts at JPMorgan Chase & Co.

LGI Homes (NASDAQ:LGIH) had its price objective cut by stock 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 firm currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 17.88% from the stock’s previous close.

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

LGI Homes Trading Down 2.5 %

Shares of LGIH stock opened at $99.85 on Friday. The company has a market cap of $2.35 billion, a P/E ratio of 11.97 and a beta of 1.99. LGI Homes has a fifty-two week low of $84.00 and a fifty-two week high of $136.89. The stock has a 50 day simple moving average of $107.15 and a two-hundred day simple moving average of $104.21. 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 announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.41. The firm had revenue of $651.85 million during 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 company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.84 earnings per share. Research analysts forecast that LGI Homes will post 8.72 earnings per share for the current year.

Hedge Funds Weigh In On LGI Homes

A number of large investors have recently modified their holdings of LGIH. Innealta Capital LLC purchased a new stake in shares of LGI Homes in the 2nd quarter valued at $39,000. First Horizon Advisors Inc. lifted 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 worth $39,000 after purchasing an additional 108 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in LGI Homes during the third quarter valued at about $43,000. KBC Group NV grew its stake 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 valued at $87,000 after buying an additional 168 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of LGI Homes by 27.5% in the third quarter. CWM LLC now owns 867 shares of the financial services provider’s stock worth $103,000 after buying an additional 187 shares during the period. 84.89% of the stock is owned by hedge funds and other institutional investors.

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.