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Fly News Breaks for February 24, 2020
Feb 24, 2020 | 08:48 EDT
BTIG analyst Carl Reichardt raised his price target on LGI Homes to $68 to reflect the recent stock price appreciation and its better than expected initial 2020 guidance, but also keeps his Sell rating due to the excessively high valuation on the stock. The analyst notes that his bearish call has not worked, but he still does not expect the company's margin outlook to improve materially and also see potential volatility to its forward growth rates. Reichardt further states that LGI Homes shares trade at a 50% premium to its peer group.
News For LGIH From the Last 2 Days
Feb 23, 2021 | 07:04 EST
Active selling communities at the end of 2021 will be between 112 and 120. Average sales price per home closed will be between $260,000 and $270,000. Gross margin as a percentage of home sales revenues will be between 24.0% and 26.0%.