LGI Homes, Inc. (LGIH) announced that it closed 776 homes in August 2021, up 16% from the year-ago quarter. The company had closed 669 homes in August 2020.
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LGI Homes designs, constructs, markets and sells new homes. It also deals in the residential land development business. (See LGI Homes stock charts on TipRanks)
Notably, LGI Homes closed 7,123 homes by the end of August, reflecting a 39.1% increase over 5,120 home closings during the first eight months of 2020. As of August 31, 2021, the company had 102 active selling communities.
Last month, BTIG analyst Carl Reichardt maintained a Hold rating on LGI Homes.
The stock has a Moderate Buy consensus rating based on 1 Buy and 1 Hold. The average LGI Homes price target of $175 implies upside potential of 7.6%.
LGIH scores an 8 out of 10 on TipRanks’ Smart Score rating system, suggesting that the stock is likely to outperform market averages.
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