Lennar (NYSE:LEN) Price Target Lowered to $140.00 at Bank of America

Lennar (NYSE:LEN) had its price objective reduced by Bank of America from $150.00 to $140.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. Bank of America‘s price target would indicate a potential upside of 2.88% from the stock’s previous close.

A number of other research analysts have also recently weighed in on LEN. JPMorgan Chase & Co. cut their price objective on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. BTIG Research cut Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Wolfe Research lowered shares of Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Wedbush reissued a “neutral” rating and issued a $164.00 price objective on shares of Lennar in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group decreased their target price on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $168.38.

Lennar Stock Performance

NYSE LEN opened at $136.09 on Monday. The business has a 50 day moving average price of $149.00 and a 200 day moving average price of $167.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The company has a market capitalization of $36.91 billion, a P/E ratio of 9.49, a PEG ratio of 1.32 and a beta of 1.66. Lennar has a 1-year low of $128.41 and a 1-year high of $193.80.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period last year, the firm earned $4.82 EPS. Sell-side analysts expect that Lennar will post 13.02 EPS for the current fiscal year.

Institutional Trading of Lennar

A number of hedge funds have recently made changes to their positions in LEN. Oakworth Capital Inc. purchased a new stake in Lennar during the 3rd quarter worth $27,000. Wolff Wiese Magana LLC grew its stake in Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. GHP Investment Advisors Inc. purchased a new stake in Lennar during the 3rd quarter worth approximately $30,000. Asset Dedication LLC boosted its stake 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 buying an additional 169 shares during the last quarter. Finally, Crews Bank & Trust bought a new stake in shares of Lennar in the fourth quarter worth $25,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Company Profile

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.