Wells Fargo & Company Issues Pessimistic Forecast for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its price target cut by investment analysts at Wells Fargo & Company from $130.00 to $125.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 3.69% from the company’s previous close.

Several other analysts have also recently commented on LEN. JPMorgan Chase & Co. lowered their target price on Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. Bank of America lowered their target price on Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Citigroup lowered their target price on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. BTIG Research cut Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada lowered their price target on 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 research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $164.53.

Lennar Stock Up 1.7 %

Shares of Lennar stock opened at $120.55 on Tuesday. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The business’s 50 day simple moving average is $126.66 and its 200-day simple moving average is $154.18. The stock has a market capitalization of $32.01 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 1.24 and a beta of 1.69. Lennar has a twelve month low of $115.61 and a twelve month high of $187.61.

Lennar (NYSE:LEN) last announced its quarterly earnings results 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). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the previous year, the company posted $4.82 earnings per share. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. Equities research analysts forecast that Lennar will post 12.48 earnings per share for the current year.

Institutional Trading of Lennar

Hedge funds and other institutional investors have recently modified their holdings of the business. Armstrong Advisory Group Inc. raised its holdings in shares of Lennar by 69.4% during the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after acquiring an additional 75 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of Lennar during the fourth quarter worth $25,000. Hurley Capital LLC purchased a new stake in shares of Lennar during the fourth quarter worth $26,000. SBI Securities Co. Ltd. purchased a new stake in shares of Lennar during the fourth quarter worth $28,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Lennar during the fourth quarter worth $30,000. Institutional investors and hedge funds 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.