LGI Homes (LGIH) Lifted to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of LGI Homes (NASDAQ:LGIH) from a neutral rating to an overweight rating in a research note released on Friday, MarketBeat reports. The brokerage currently has $58.50 price target on the financial services provider’s stock, down from their prior price target of $69.00.

A number of other equities analysts also recently weighed in on LGIH. BidaskClub downgraded shares of LGI Homes from a buy rating to a hold rating in a research note on Thursday, May 24th. Wedbush set a $65.00 target price on shares of LGI Homes and gave the company a neutral rating in a research note on Friday, July 6th. Zacks Investment Research downgraded shares of LGI Homes from a hold rating to a sell rating in a research note on Thursday, July 12th. Finally, ValuEngine downgraded shares of LGI Homes from a hold rating to a sell rating in a research note on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. LGI Homes has an average rating of Hold and an average price target of $63.13.

Shares of NASDAQ LGIH opened at $50.47 on Friday. LGI Homes has a fifty-two week low of $44.86 and a fifty-two week high of $81.88. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 0.70 and a beta of 0.04. The company has a quick ratio of 1.47, a current ratio of 15.32 and a debt-to-equity ratio of 0.98.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, August 7th. The financial services provider reported $1.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.22. LGI Homes had a net margin of 9.81% and a return on equity of 28.50%. The business had revenue of $419.85 million during the quarter, compared to the consensus estimate of $414.52 million. sell-side analysts anticipate that LGI Homes will post 6.57 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stratos Wealth Partners LTD. bought a new position in shares of LGI Homes during the first quarter valued at approximately $126,000. Altium Wealth Management LLC purchased a new stake in shares of LGI Homes during the first quarter valued at approximately $200,000. Morse Asset Management Inc purchased a new stake in shares of LGI Homes during the second quarter valued at approximately $207,000. Profund Advisors LLC purchased a new stake in shares of LGI Homes during the first quarter valued at approximately $216,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of LGI Homes during the second quarter valued at approximately $221,000. 89.31% of the stock is owned by institutional investors and hedge funds.

LGI Homes Company Profile

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington, Tennessee, and Minnesota markets. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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