Lennar (NYSE:LEN) Rating Reiterated by Wedbush

Lennar (NYSE:LEN)‘s stock had its “neutral” rating reissued by equities researchers at Wedbush in a report issued on Friday, Benzinga reports. They presently have a $144.00 price target on the construction company’s stock. Wedbush’s price objective points to a potential downside of 25.18% from the company’s previous close.

Several other equities analysts also recently commented on the stock. BTIG Research dropped their price objective on shares of Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and dropped their price target for the company from $180.00 to $174.00 in a research note on Monday, July 22nd. Royal Bank of Canada restated an “underperform” rating and set a $145.00 price objective on shares of Lennar in a research report on Thursday, June 20th. JPMorgan Chase & Co. dropped their target price on Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Finally, Raymond James cut Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $173.71.

Lennar Stock Up 2.1 %

NYSE LEN opened at $192.45 on Friday. The business has a fifty day moving average price of $176.08 and a two-hundred day moving average price of $163.80. The stock has a market capitalization of $52.85 billion, a PE ratio of 13.08, a PEG ratio of 1.61 and a beta of 1.61. Lennar has a fifty-two week low of $102.90 and a fifty-two week high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. Lennar’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $3.91 earnings per share. Equities analysts expect that Lennar will post 14.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lennar

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rise Advisors LLC lifted its stake in Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after buying an additional 121 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of Lennar in the 1st quarter valued at $30,000. New Covenant Trust Company N.A. bought a new position in Lennar during the first quarter worth $32,000. Redmont Wealth Advisors LLC acquired a new stake in Lennar in the first quarter worth $35,000. Finally, Fortitude Family Office LLC increased its stake in Lennar by 223.6% in the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after purchasing an additional 161 shares in the last quarter. 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.