The Goldman Sachs Group Has Lowered Expectations for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its target price decreased by investment analysts at The Goldman Sachs Group from $141.00 to $120.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 1.78% from the company’s current price.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Evercore ISI reiterated an “in-line” rating and issued a $131.00 price objective (down previously from $159.00) on shares of Lennar in a research report on Monday. BTIG Research cut Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Keefe, Bruyette & Woods dropped their price target on Lennar from $141.00 to $128.00 and set a “market perform” rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company decreased their price objective on shares of Lennar from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 18th. Fifteen research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $151.07.

Lennar Price Performance

Lennar stock opened at $117.90 on Tuesday. The firm has a market capitalization of $31.31 billion, a P/E ratio of 8.22, a PEG ratio of 1.24 and a beta of 1.69. Lennar has a one year low of $111.26 and a one year high of $187.61. 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 business has a fifty day moving average price of $125.06 and a 200-day moving average price of $152.03.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter last year, the company earned $2.57 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts forecast that Lennar will post 12.48 EPS for the current year.

Institutional Trading of Lennar

Several hedge funds and other institutional investors have recently bought and sold shares of LEN. Verition Fund Management LLC boosted its position in Lennar by 147.6% during the 3rd quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock valued at $12,978,000 after buying an additional 41,264 shares during the period. Polianta Ltd purchased a new stake in Lennar in the 4th quarter worth approximately $900,000. Nordea Investment Management AB increased its stake in shares of Lennar by 21.4% during the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after buying an additional 397,492 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Lennar by 13.8% during the third quarter. Daiwa Securities Group Inc. now owns 30,278 shares of the construction company’s stock valued at $5,677,000 after acquiring an additional 3,674 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its stake in Lennar by 71.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 14,327 shares of the construction company’s stock worth $2,686,000 after acquiring an additional 5,981 shares during the period. Institutional investors 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.