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

Lennar (NYSE:LENGet Free Report) had its target price cut by equities researchers at Bank of America from $150.00 to $140.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. Bank of America‘s price objective points to a potential upside of 2.88% from the stock’s current price.

Several other research analysts have also weighed in on the stock. Wolfe Research lowered shares of Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group lowered their price objective on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, December 23rd. Wedbush reissued a “neutral” rating and issued a $164.00 target price on shares of Lennar in a research report on Thursday, December 19th. Barclays lowered their price target on Lennar from $181.00 to $135.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Finally, Royal Bank of Canada raised Lennar from an “underperform” rating to a “sector perform” rating and set a $130.00 target price on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $168.38.

View Our Latest Research Report on LEN

Lennar Stock Performance

NYSE:LEN opened at $136.09 on Monday. The company’s 50-day moving average is $149.00 and its two-hundred day moving average is $167.09. Lennar has a 1-year low of $128.41 and a 1-year high of $193.80. 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 firm has a market capitalization of $36.91 billion, a price-to-earnings ratio of 9.49, a PEG ratio of 1.32 and a beta of 1.66.

Lennar (NYSE:LENGet Free Report) last released its quarterly earnings data 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 business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the prior year, the company posted $4.82 earnings per share. The company’s revenue was down 9.3% on a year-over-year basis. Analysts forecast that Lennar will post 13.02 EPS for the current year.

Institutional Trading of Lennar

A number of institutional investors have recently bought and sold shares of LEN. International Assets Investment Management LLC raised its position in shares of Lennar by 23,048.0% during the 3rd quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock worth $28,209,000 after acquiring an additional 149,812 shares in the last quarter. Smead Capital Management Inc. grew its holdings in shares of Lennar by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock worth $499,991,000 after buying an additional 89,896 shares during the last quarter. Verition Fund Management LLC increased its holdings in shares of Lennar by 147.6% in the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock valued at $12,978,000 after purchasing an additional 41,264 shares during the period. Polianta Ltd purchased a new position in Lennar during the 4th quarter worth $900,000. Finally, OneDigital Investment Advisors LLC raised its holdings in Lennar by 101.2% during the third quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock worth $1,626,000 after purchasing an additional 4,363 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

About Lennar

(Get Free Report)

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.

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Analyst Recommendations for Lennar (NYSE:LEN)

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