Citizens JMP analyst Aaron Hecht lowered the firm’s price target on LGI Homes (LGIH) to $75 from $140 and keeps an Outperform rating on the shares following the Q2 report. The earnings miss reflected lower operating margins and less contribution from other income, the analyst tells investors in a research note. The firm believes LGI is having a difficult time qualifying customers in the high-interest rate environment.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LGIH: