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

LGI Homes (NASDAQ:LGIH) had its price target upped by JPMorgan Chase & Co. from $38.00 to $41.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 16.28% from the stock’s current price.

Several other brokerages also recently weighed in on LGIH. Zacks Research raised LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a report on Wednesday, January 7th. Finally, Citizens Jmp raised their price target on LGI Homes from $85.00 to $95.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 7th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, LGI Homes currently has an average rating of “Hold” and an average target price of $72.75.

LGI Homes Trading Up 2.2%

NASDAQ:LGIH traded up $1.04 on Thursday, hitting $48.97. 488,969 shares of the stock were exchanged, compared to its average volume of 470,210. The stock has a market cap of $1.13 billion, a PE ratio of 15.65 and a beta of 1.86. The company has a current ratio of 20.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. The stock has a fifty day moving average of $43.19 and a 200-day moving average of $46.97. LGI Homes has a fifty-two week low of $33.55 and a fifty-two week high of $69.50.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.11 by $0.13. The company had revenue of $319.74 million during the quarter, compared to analyst estimates of $336.60 million. LGI Homes had a return on equity of 4.08% and a net margin of 4.25%.The firm’s revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 earnings per share. As a group, equities analysts expect that LGI Homes will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Charles Michael Merdian sold 7,211 shares of LGI Homes stock in a transaction on Monday, March 9th. The stock was sold at an average price of $42.04, for a total value of $303,150.44. Following the transaction, the chief financial officer directly owned 20,540 shares in the company, valued at $863,501.60. The trade was a 25.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Scott James Garber sold 1,353 shares of LGI Homes stock in a transaction on Monday, March 9th. The stock was sold at an average price of $42.04, for a total value of $56,880.12. Following the completion of the transaction, the general counsel owned 21,716 shares in the company, valued at $912,940.64. The trade was a 5.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,451 shares of company stock worth $943,840 in the last three months. 12.60% of the stock is currently owned by insiders.

Institutional Trading of LGI Homes

A number of institutional investors have recently bought and sold shares of the company. Inspire Investing LLC boosted its position in 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 purchasing an additional 2,356 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of LGI Homes in the 1st quarter worth approximately $356,000. Rockefeller Capital Management L.P. increased its position in shares of LGI Homes by 1,759.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 827 shares during the period. River Road Asset Management LLC grew its stake in shares of LGI Homes by 2.0% in the 4th quarter. River Road Asset Management LLC now owns 931,391 shares of the financial services provider’s stock valued at $40,013,000 after purchasing an additional 18,682 shares during the period. Finally, Virtu Financial LLC grew its stake in LGI Homes by 18.8% during the fourth quarter. Virtu Financial LLC now owns 7,889 shares of the financial services provider’s stock worth $339,000 after buying an additional 1,246 shares during the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

About LGI Homes

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.