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Benzinga

Business

Shivani Kumaresan

Why Are LGI Homes Shares Trading Lower Today

LGI Homes LGIH BTIG Nasdaq

BTIG analyst Carl Reichardt downgraded LGI Homes (NASDAQ:LGIH) to Sell from Neutral with a $98 price target, implying an 11% downside.
Carl showed concern about the company’s reliance on single-family rental investors for delivery volume and the impact of higher rates on those customers.
The analyst thinks that LGI has a higher demand risk profile than its public peers.
LGI closed 499 homes in February 2022.
Price Action: LGIH shares are trading lower by 8.46% at $110.04 on the last check Wednesday.

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