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Fly News Breaks for September 6, 2019
Sep 6, 2019 | 06:50 EDT
JMP Securities analyst Peter Martin raised his price target on LGI Homes to $89 and kept his Outperform rating after its monthly home closings data, saying the results "track well" relative to his Q3 forecasts. The analyst notes that the company's year-to-date closings were up 8% and its absorption rate of 6.8 monthly homes closed per community was near the midpoint of its target 6.0-8.0 range. Martin is concerned however that LGI Homes may miss consensus for the current quarter because of the adverse impact of Hurricane Dorian in the southeast.
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