Lennar (NYSE:LEN) Rating Reiterated by Wedbush

Lennar (NYSE:LEN)‘s stock had its “neutral” rating reissued by analysts at Wedbush in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $144.00 price target on the construction company’s stock. Wedbush’s price target would indicate a potential downside of 20.61% from the stock’s current price.

A number of other analysts have also weighed in on the stock. BTIG Research cut their price objective on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. JMP Securities reiterated a “market outperform” rating and issued a $170.00 price objective on shares of Lennar in a research note on Thursday, June 20th. Citigroup restated a “neutral” rating and set a $164.00 price target (down previously from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. Wells Fargo & Company raised their price target on shares of Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $172.69.

Lennar Stock Performance

LEN opened at $181.38 on Wednesday. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. Lennar has a 12-month low of $102.90 and a 12-month high of $186.60. The firm has a 50 day moving average of $171.80 and a two-hundred day moving average of $162.68. The firm has a market capitalization of $49.81 billion, a PE ratio of 12.33, a P/E/G ratio of 1.63 and a beta of 1.61.

Lennar (NYSE:LEN) last released its quarterly earnings data on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $0.18. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.57 billion. Lennar had a net margin of 11.58% and a return on equity of 15.93%. On average, analysts anticipate that Lennar will post 14.16 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LEN. D1 Capital Partners L.P. increased its holdings in shares of Lennar by 428.9% in the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after purchasing an additional 1,962,447 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Lennar by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after acquiring an additional 396,951 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Lennar during the 1st quarter valued at about $61,807,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Lennar by 157.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock valued at $98,889,000 after purchasing an additional 351,698 shares during the period. Finally, Marshall Wace LLP increased its position in Lennar by 20.9% during the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after purchasing an additional 348,553 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.