JPMorgan Chase & Co. Increases LGI Homes (NASDAQ:LGIH) Price Target to $41.00

LGI Homes (NASDAQ:LGIH) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $38.00 to $41.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 15.52% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Zacks Research upgraded shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Citizens Jmp upped their price target on shares of LGI Homes from $85.00 to $95.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 7th. Finally, Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a research note on Wednesday, January 7th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, LGI Homes presently has a consensus rating of “Hold” and a consensus price target of $72.75.

LGI Homes Stock Down 0.9%

Shares of LGIH opened at $48.53 on Thursday. LGI Homes has a 1 year low of $33.55 and a 1 year high of $69.50. The company has a debt-to-equity ratio of 0.81, a current ratio of 18.56 and a quick ratio of 0.76. The stock has a 50 day simple moving average of $43.10 and a two-hundred day simple moving average of $46.98. The firm has a market cap of $1.12 billion, a P/E ratio of 15.91 and a beta of 1.86.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.02 by $0.22. The firm had revenue of $319.74 million for the quarter, compared to the consensus estimate of $328.22 million. LGI Homes had a net margin of 4.22% and a return on equity of 3.80%. The business’s revenue was down 9.0% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. On average, analysts forecast that LGI Homes will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling at LGI Homes

In other LGI Homes news, CFO Charles Michael Merdian sold 7,211 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $42.04, for a total value of $303,150.44. Following the sale, the chief financial officer owned 20,540 shares of the company’s stock, valued at $863,501.60. This trade represents a 25.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Larry Snider sold 6,000 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $42.04, for a total transaction of $252,240.00. Following the completion of the transaction, the chief operating officer owned 175,556 shares in the company, valued at $7,380,374.24. The trade was a 3.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,451 shares of company stock valued at $943,840 in the last quarter. Company insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp lifted its holdings in LGI Homes by 44,577.3% in the 1st quarter. Fifth Third Bancorp now owns 39,316 shares of the financial services provider’s stock worth $1,554,000 after buying an additional 39,228 shares during the period. Inspire Investing LLC raised its holdings in shares of LGI Homes by 21.8% during the first quarter. Inspire Investing LLC now owns 13,186 shares of the financial services provider’s stock valued at $521,000 after acquiring an additional 2,356 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of LGI Homes during the first quarter valued at approximately $356,000. Rockefeller Capital Management L.P. lifted its stake in LGI Homes by 1,759.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 827 shares during the period. Finally, River Road Asset Management LLC lifted its stake in LGI Homes by 2.0% in the fourth quarter. River Road Asset Management LLC now owns 931,391 shares of the financial services provider’s stock worth $40,013,000 after acquiring an additional 18,682 shares during the period. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.