From Yahoo Finance: 2024-04-02 14:00:00

Wedbush downgraded shares of five homebuilder stocks due to seasonality headwinds during what it called the most normal year for housing trends since 2019. The firm downgraded Century Communities, LGI Homes, and Meritage Homes Corporation while keeping its price targets unchanged on DR Horton and Lennar shares. Analyst Jay McCanless believes these names could see a normal seasonal stock price decline into the summer. The bearish call comes as all five names, except for Lennar, have underperformed the iShares U.S. Home Construction ETF since the beginning of the year. Additionally, higher interest rates and a lack of housing supply are affecting builders’ margins and strategy with entry-level buyers.



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