Citigroup Lowers Lennar (NYSE:LEN) Price Target to $150.00

Lennar (NYSE:LEN) had its target price lowered by Citigroup from $196.00 to $150.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. Citigroup’s target price would suggest a potential upside of 12.75% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods decreased their price target on Lennar from $210.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Barclays dropped their target price on shares of Lennar from $181.00 to $135.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Finally, JMP Securities upped their price objective on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $172.31.

Lennar Price Performance

NYSE:LEN opened at $133.04 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The firm has a market cap of $36.09 billion, a price-to-earnings ratio of 8.81, a P/E/G ratio of 1.28 and a beta of 1.66. Lennar has a 52 week low of $132.83 and a 52 week high of $193.80. The firm’s 50-day simple moving average is $158.72 and its 200 day simple moving average is $168.17.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.82 earnings per share. As a group, sell-side analysts predict that Lennar will post 14.11 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the transaction, the director now owns 23,689 shares in the company, valued at $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.36% of the stock is owned by insiders.

Institutional Trading of Lennar

A number of large investors have recently bought and sold shares of LEN. Oakworth Capital Inc. acquired a new stake in Lennar during the third quarter worth approximately $27,000. Wolff Wiese Magana LLC boosted its holdings in shares of Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after buying an additional 140 shares in the last quarter. GHP Investment Advisors Inc. acquired a new stake in shares of Lennar during the 3rd quarter worth approximately $30,000. Asset Dedication LLC lifted its position in shares of Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after acquiring an additional 169 shares during the period. Finally, DT Investment Partners LLC boosted its stake in Lennar by 523.3% during the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after acquiring an additional 157 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

About Lennar

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company’s homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.