LGI Homes, Inc. (LGIH) saw a big move last session, as the company’s shares fell by over 8% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for LGIH, as the stock is now down 15.1% since Nov 3.
LGI Homes has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (no increase, 1 decrease), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.
LGIH currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Real Estate Development industry include Alexander & Baldwin, Inc. (ALEX), Altisource Residential Corporation (RESI) and Marcus & Millichap, Inc. (MMI). While Alexander & Baldwin carries a Zacks Rank #1 (Strong Buy), both Altisource Residential and Marcus & Millichap hold a Zacks Rank #2 (Buy).
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