As previously reported, Wedbush analyst Jay McCanless downgraded LGI Homes to Underperform from Neutral with a price target of $74, down from $88. The firm notes 2024 has been the most “normal” year seen for the home building industry since 2019 in terms of normal seasonality. Consequently, Wedbush believes these names could see a normal seasonal stock price decline into the summer especially after the seasonal trade window closes in April/May.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LGIH:
- LGI Homes Awarded Prestigious 2-10 Home Buyers Warranty Platinum Builder Award for Outstanding Leadership in New Construction
- LGI Homes, Inc. Reports February 2024 Home Closings
- LGI Homes announced it closed 376 homes in February
- Terrata Homes Expands Presence with A New Community in Seattle
- LGI Homes Introduces its Newest Community in the Atlanta Market
