LGI Homes (NASDAQ:LGIH) PT Lowered to $81.00 at JPMorgan Chase & Co.

LGI Homes (NASDAQ:LGIHGet Rating) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $96.00 to $81.00 in a research report issued on Wednesday, The Fly reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 10.06% from the company’s previous close.

LGIH has been the topic of several other research reports. Zacks Investment Research raised LGI Homes from a “hold” rating to a “buy” rating and set a $138.00 price objective on the stock in a research report on Friday, February 18th. TheStreet downgraded LGI Homes from a “b-” rating to a “c+” rating in a research report on Thursday, April 7th. BTIG Research downgraded LGI Homes from a “neutral” rating to a “sell” rating and set a $98.00 price objective on the stock. in a research report on Wednesday, March 23rd. Finally, StockNews.com began coverage on LGI Homes in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $134.50.

NASDAQ:LGIH opened at $90.06 on Wednesday. The stock’s fifty day moving average is $114.83 and its 200 day moving average is $132.96. LGI Homes has a fifty-two week low of $88.13 and a fifty-two week high of $188.00. The firm has a market capitalization of $2.14 billion, a PE ratio of 5.22 and a beta of 1.55. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 14.86.

LGI Homes (NASDAQ:LGIHGet Rating) last released its quarterly earnings results on Tuesday, February 15th. The financial services provider reported $4.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.62 by ($0.09). LGI Homes had a net margin of 14.09% and a return on equity of 32.82%. The company had revenue of $801.08 million for the quarter, compared to analysts’ expectations of $758.07 million. During the same quarter in the previous year, the company posted $5.18 EPS. The business’s quarterly revenue was down 10.7% on a year-over-year basis. Equities analysts forecast that LGI Homes will post 17.28 EPS for the current year.

In other news, COO Michael Larry Snider sold 16,729 shares of the stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $118.99, for a total transaction of $1,990,583.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Rachel Lyons Eaton sold 3,883 shares of the stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $118.99, for a total value of $462,038.17. The disclosure for this sale can be found here. Insiders have sold a total of 53,472 shares of company stock worth $6,362,633 in the last three months. Corporate insiders own 12.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Meitav Dash Investments Ltd. boosted its position in LGI Homes by 3.9% during the third quarter. Meitav Dash Investments Ltd. now owns 2,400 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 90 shares in the last quarter. Heritage Wealth Management LLC boosted its position in LGI Homes by 18.7% during the third quarter. Heritage Wealth Management LLC now owns 602 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 95 shares in the last quarter. Strs Ohio boosted its position in LGI Homes by 20.0% during the fourth quarter. Strs Ohio now owns 600 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 100 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in LGI Homes by 1.8% during the third quarter. PNC Financial Services Group Inc. now owns 6,022 shares of the financial services provider’s stock valued at $855,000 after purchasing an additional 105 shares in the last quarter. Finally, Brookstone Capital Management boosted its position in LGI Homes by 3.8% during the first quarter. Brookstone Capital Management now owns 3,668 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 134 shares in the last quarter. 85.04% of the stock is currently owned by institutional investors.

About LGI Homes (Get Rating)

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 companies looking to acquire single-family rental properties.

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