Keefe, Bruyette & Woods Issues Pessimistic Forecast for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its price objective reduced by Keefe, Bruyette & Woods from $170.00 to $152.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 22.37% from the stock’s current price.

A number of other research firms have also recently weighed in on LEN. Wolfe Research cut shares of Lennar from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group reduced their price target 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. Royal Bank of Canada reduced their price target on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Wedbush reaffirmed a “neutral” rating and set a $164.00 price target on shares of Lennar in a research report on Thursday, December 19th. Finally, Wells Fargo & Company reduced their price target on shares of Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $166.06.

Lennar Stock Up 1.2 %

Lennar stock traded up $1.52 during trading on Tuesday, reaching $124.21. 1,270,571 shares of the company’s stock were exchanged, compared to its average volume of 3,512,181. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. The company’s 50-day moving average is $140.32 and its two-hundred day moving average is $164.32. The firm has a market cap of $32.98 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 1.28 and a beta of 1.67. Lennar has a 52-week low of $121.40 and a 52-week high of $193.80.

Lennar (NYSE:LEN) last posted its quarterly earnings data 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 firm had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $4.82 earnings per share. On average, analysts predict that Lennar will post 12.52 earnings per share for the current year.

Institutional Investors Weigh In On Lennar

Several large investors have recently made changes to their positions in LEN. Moors & Cabot Inc. boosted its holdings in shares of Lennar by 2.2% in the third quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock valued at $577,000 after acquiring an additional 66 shares in the last quarter. Centaurus Financial Inc. boosted its holdings in shares of Lennar by 2.5% in the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock valued at $551,000 after acquiring an additional 71 shares in the last quarter. Commerce Bank boosted its holdings in shares of Lennar by 0.5% in the third quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock valued at $2,826,000 after acquiring an additional 74 shares in the last quarter. Jupiter Wealth Management LLC boosted its holdings in shares of Lennar by 1.0% in the third quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company’s stock valued at $1,437,000 after acquiring an additional 75 shares in the last quarter. Finally, Armstrong Advisory Group Inc. boosted its holdings in shares of Lennar by 69.4% in the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after acquiring an additional 75 shares in the last quarter. 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.