$380.99 Million in Sales Expected for LGI Homes Inc (LGIH) This Quarter
Analysts expect LGI Homes Inc (NASDAQ:LGIH) to announce $380.99 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for LGI Homes’ earnings. The highest sales estimate is $397.90 million and the lowest is $334.96 million. LGI Homes reported sales of $236.83 million during the same quarter last year, which indicates a positive year over year growth rate of 60.9%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, February 27th.
According to Zacks, analysts expect that LGI Homes will report full-year sales of $380.99 million for the current fiscal year, with estimates ranging from $1.19 billion to $1.25 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.50 billion per share, with estimates ranging from $1.46 billion to $1.55 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover LGI Homes.
A number of equities research analysts have recently issued reports on LGIH shares. BidaskClub upgraded shares of LGI Homes from a “hold” rating to a “buy” rating in a research report on Friday. Wedbush upgraded LGI Homes from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $59.51 to $73.00 in a research report on Tuesday. JMP Securities lifted their price objective on LGI Homes from $62.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 8th. TheStreet upgraded LGI Homes from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Finally, Zacks Investment Research downgraded LGI Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $61.50.
In other LGI Homes news, CEO Eric Thomas Lipar sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $72.03, for a total value of $1,800,750.00. Following the completion of the transaction, the chief executive officer now directly owns 491,233 shares in the company, valued at approximately $35,383,512.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.60% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of LGIH. Advisor Group Inc. raised its holdings in LGI Homes by 384.7% in the 4th quarter. Advisor Group Inc. now owns 1,454 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 1,154 shares during the last quarter. Meadow Creek Investment Management LLC acquired a new position in LGI Homes in the 4th quarter valued at $172,000. Midas Management Corp acquired a new position in LGI Homes in the 4th quarter valued at $191,000. SG Americas Securities LLC acquired a new position in LGI Homes in the 3rd quarter valued at $199,000. Finally, LS Investment Advisors LLC raised its holdings in LGI Homes by 37.3% in the 3rd quarter. LS Investment Advisors LLC now owns 4,214 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 1,145 shares during the last quarter. Institutional investors own 89.50% of the company’s stock.
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About LGI Homes
LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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