Lennar (NYSE:LEN) Price Target Cut to $130.00 by Analysts at Bank of America

Lennar (NYSE:LEN) had its price target lowered by equities researchers at Bank of America from $140.00 to $130.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. Bank of America‘s price target indicates a potential upside of 7.84% from the stock’s current price.

A number of other brokerages also recently weighed in on LEN. Wolfe Research downgraded shares of Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Wells Fargo & Company decreased their price objective on shares of Lennar from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Tuesday. The Goldman Sachs Group reduced their price target on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. UBS Group dropped their price objective on shares of Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada dropped 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. Fourteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $164.53.

Lennar Stock Up 1.7 %

Shares of LEN opened at $120.55 on Tuesday. Lennar has a 52 week low of $115.61 and a 52 week high of $187.61. The firm has a market cap of $32.01 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The firm’s 50-day simple moving average is $126.66 and its 200 day simple moving average is $154.18. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same quarter last year, the company posted $4.82 EPS. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. On average, analysts forecast that Lennar will post 12.48 earnings per share for the current year.

Hedge Funds Weigh In On Lennar

Large investors have recently modified their holdings of the business. LMR Partners LLP bought a new position in Lennar in the 3rd quarter worth about $4,797,000. Smead Capital Management Inc. lifted its position in Lennar by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after purchasing an additional 89,896 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in Lennar by 626.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 19,654 shares of the construction company’s stock worth $3,685,000 after buying an additional 16,950 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Lennar in the 3rd quarter worth $7,348,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Lennar during the 3rd quarter valued at $131,000. 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.