LGI Homes (NASDAQ:LGIH) Given New $41.00 Price Target at JPMorgan Chase & Co.

LGI Homes (NASDAQ:LGIH) had its target price hoisted by JPMorgan Chase & Co. from $38.00 to $41.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

LGIH has been the subject of several other reports. Zacks Research raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Citizens Jmp lifted their target price on shares of LGI Homes from $85.00 to $95.00 and gave the company a “market outperform” rating in a report on Wednesday, January 7th. Finally, Citigroup reissued an “outperform” rating on shares of LGI Homes in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, LGI Homes currently has an average rating of “Hold” and a consensus price target of $72.75.

LGI Homes Price Performance

NASDAQ:LGIH opened at $48.97 on Thursday. 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 firm has a market cap of $1.14 billion, a price-to-earnings ratio of 16.06 and a beta of 1.86. The company has a 50 day moving average price of $43.10 and a 200-day moving average price of $46.98. LGI Homes has a 1-year low of $33.55 and a 1-year high of $69.50.

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

Insider Activity at LGI Homes

In related news, COO Michael Larry Snider sold 6,000 shares of LGI Homes stock in a transaction on Monday, March 9th. The shares were sold at an average price of $42.04, for a total value of $252,240.00. Following the sale, the chief operating officer owned 175,556 shares of the company’s stock, valued at approximately $7,380,374.24. This trade represents a 3.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Scott James Garber sold 1,353 shares of LGI Homes stock in a transaction on Monday, March 9th. The shares were sold at an average price of $42.04, for a total transaction of $56,880.12. Following the completion of the sale, the general counsel directly owned 21,716 shares in the company, valued at $912,940.64. This represents a 5.87% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 22,451 shares of company stock valued at $943,840. 12.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On LGI Homes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd boosted its stake in LGI Homes by 75.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 237 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in LGI Homes by 106.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 305 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in LGI Homes during the 4th quarter worth $29,000. Kemnay Advisory Services Inc. acquired a new stake in LGI Homes during the 4th quarter worth $32,000. Finally, Rockefeller Capital Management L.P. boosted its stake in LGI Homes by 1,759.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 827 shares during the last quarter. Institutional investors and hedge funds 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.