JPMorgan Chase & Co. Has Lowered Expectations for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its target price dropped by stock analysts at JPMorgan Chase & Co. from $192.00 to $173.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 12.05% from the company’s previous close.

LEN has been the subject of a number of other research reports. Royal Bank of Canada upped their target price on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a report on Monday, September 23rd. Evercore ISI decreased their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Bank of America lifted their target price on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Finally, Barclays lowered shares of Lennar from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $210.00 to $181.00 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $183.76.

Lennar Price Performance

LEN opened at $154.39 on Friday. The company has a market capitalization of $41.88 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 1.31 and a beta of 1.61. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. Lennar has a 12-month low of $140.65 and a 12-month high of $193.80. The business’s fifty day simple moving average is $172.46 and its 200-day simple moving average is $169.96.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter last year, the firm posted $3.91 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities research analysts anticipate that Lennar will post 14.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the sale, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lennar

Several institutional investors and hedge funds have recently modified their holdings of the stock. Moors & Cabot Inc. raised its position in Lennar by 2.2% during the third quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock valued at $577,000 after acquiring an additional 66 shares in the last quarter. Centaurus Financial Inc. increased its holdings in shares of Lennar by 2.5% during the 3rd quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock valued at $551,000 after purchasing an additional 71 shares in the last quarter. Aaron Wealth Advisors LLC lifted its stake in shares of Lennar by 5.7% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock valued at $207,000 after purchasing an additional 74 shares during the period. Quotient Wealth Partners LLC boosted its holdings in Lennar by 5.0% during the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock worth $231,000 after buying an additional 74 shares in the last quarter. Finally, Commerce Bank increased its holdings in Lennar by 0.5% in the third quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock valued at $2,826,000 after buying an additional 74 shares in the last quarter. 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.