Brokerage firm Wells Fargo Downgrades its rating on LGI Homes Inc(LGIH). The shares have been rated Underperform. Previously, the analysts had a Market Perform rating on the shares. The rating by Wells Fargo was issued on Feb 6, 2017.
LGI Homes Inc (LGIH) remained unchanged at the close of Tuesday session. Even as the volume increased to 7,62,431 ,the shares failed to make any impression and ended at 0 points or 0.00% at $27.62. The trading session commenced at $27.63 and the stock hit a high of $27.88 and touched $26.97 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $40.47 and the 52-week low is $19. The company has a market cap of $588 M and has approximately 2,12,82,514 outstanding shares.
LGI Homes Inc(LGIH) last announced its earnings results on Nov 8, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $216.30M. Analysts had an estimated revenue of $213.78M. Earnings per share were $0.86. The reported EPS was above estimates by $0.01 or 1.18%. Analysts had estimated an EPS of $0.85.
Several Insider Transactions has been reported to the SEC. On Jan 20, 2017, Eric Thomas Lipar (director officer 10% owner ) sold 10,000 shares at $30.20 per share price.Also, On Mar 17, 2016, Rachel Lyons Eaton (Chief Marketing Officer) sold 64 shares at $21.82 per share price.On Mar 17, 2016, Michael Larry Snider (President and COO) sold 628 shares at $21.82 per share price, according to the Form-4 filing with the securities and exchange commission.
LGI Homes Inc. is a homebuilder. 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 and Colorado. The Company’s product offerings include entry-level homes sold under its LGI Homes brand and its move-up homes which are sold under Terrata Homes brand. Terrata Homes brand delivers move-in ready homes. It manages its homebuilding operations under four segments: Texas division Southwest division Southeast division and Florida division. Its Texas division includes Houston Dallas/Ft. Worth San Antonio and Austin operations; Southwest division includes Phoenix Tucson Albuquerque and Denver operations; Southeast division includes Atlanta and Charlotte operations and Florida division includes Tampa Orlando and Fort Myers operations. It has constructed and closed approximately 8500 homes. It has a total of around 453 completed homes and 578 homes in progress.