LGI Homes Inc (LGIH) is Initiated by Wells Fargo to Outperform

LGI Homes Inc (LGIH) was Initiated by Wells Fargo to “Outperform”. Wells Fargo advised their investors in a research report released on Sep 29, 2016.

On the company’s financial health, LGI Homes Inc reported $0.96 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.90. The company had revenue of $222.72 million for the quarter, compared to analysts expectations of $219.52 million. The company’s revenue was up 40.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.

LGI Homes Inc closed down -0.16 points or -0.44% at $36.22 with 3,18,367 shares getting traded on Tuesday. Post opening the session at $36.14, the shares hit an intraday low of $36 and an intraday high of $36.61 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Mar 17, 2016, Rachel Lyons Eaton (Chief Marketing Officer) sold 64 shares at $21.82 per share price. According to the SEC, on Mar 17, 2016, Michael Larry Snider (President and COO) sold 628 shares at $21.82 per share price. On Mar 17, 2016, Jack Anthony Lipar (Executive VP of Acquisitions) sold 263 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.

LGI Homes Inc

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