Lennar (NYSE:LEN) Given New $110.00 Price Target at Barclays

Lennar (NYSE:LEN) had its target price cut by investment analysts at Barclays from $121.00 to $110.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Barclays‘s target price suggests a potential downside of 4.42% from the company’s previous close.

Several other research analysts have also issued reports on the stock. Bank of America dropped their price target on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Wedbush restated a “neutral” rating and set a $158.00 target price on shares of Lennar in a research report on Monday, March 17th. Keefe, Bruyette & Woods lowered Lennar from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $152.00 to $141.00 in a research note on Tuesday, March 11th. Royal Bank of Canada dropped their price objective on Lennar from $125.00 to $122.00 and set a “sector perform” rating for the company in a research note on Monday. Finally, BTIG Research lowered shares of Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $156.60.

Lennar Price Performance

Shares of LEN stock opened at $115.09 on Monday. Lennar has a 12 month low of $111.26 and a 12 month high of $187.61. The company has a market capitalization of $30.56 billion, a P/E ratio of 8.03, a P/E/G ratio of 1.24 and a beta of 1.69. The stock has a 50 day moving average of $126.09 and a two-hundred day moving average of $153.13. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.44 billion. During the same period last year, the business earned $2.57 earnings per share. Lennar’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts expect that Lennar will post 12.48 EPS for the current year.

Hedge Funds Weigh In On Lennar

Large investors have recently made changes to their positions in the company. Armstrong Advisory Group Inc. raised its holdings in Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after purchasing an additional 75 shares during the last quarter. Crews Bank & Trust bought a new stake in shares of Lennar during the fourth quarter worth approximately $25,000. Hurley Capital LLC acquired a new position in Lennar in the fourth quarter valued at approximately $26,000. SBI Securities Co. Ltd. bought a new position in Lennar in the fourth quarter valued at approximately $28,000. Finally, Ameriflex Group Inc. acquired a new stake in Lennar during the 4th quarter worth $30,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.