Lennar (NYSE:LEN) Given New $162.00 Price Target at The Goldman Sachs Group

Lennar (NYSE:LEN) had its price target cut by equities researchers at The Goldman Sachs Group from $190.00 to $162.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 17.39% from the company’s previous close.

A number of other equities analysts also recently weighed in on LEN. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Wells Fargo & Company cut their price target on Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. UBS Group cut their target price on shares of Lennar from $225.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Bank Of America (Bofa) upped their price objective on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, JMP Securities upped their price target on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $175.19.

Lennar Stock Performance

Shares of NYSE LEN opened at $138.00 on Monday. The stock has a market cap of $37.43 billion, a P/E ratio of 9.14, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. The firm has a 50 day moving average price of $168.10 and a two-hundred day moving average price of $169.45. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar has a 52-week low of $135.21 and a 52-week high of $193.80.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($0.12). The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. During the same period in the previous year, the company posted $4.82 EPS. The company’s quarterly revenue was down 9.3% on a year-over-year basis. As a group, equities analysts forecast that Lennar will post 14.11 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LEN. Oddo BHF Asset Management Sas bought a new stake in shares of Lennar during the 3rd quarter valued at about $2,543,000. Synovus Financial Corp increased its holdings in shares of Lennar by 1.3% in the 3rd quarter. Synovus Financial Corp now owns 47,348 shares of the construction company’s stock worth $8,877,000 after buying an additional 627 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Lennar during the 3rd quarter worth $241,000. World Investment Advisors LLC purchased a new position in Lennar in the third quarter worth $251,000. Finally, Sanctuary Advisors LLC raised its position in Lennar by 9.4% during the third quarter. Sanctuary Advisors LLC now owns 43,049 shares of the construction company’s stock valued at $8,071,000 after purchasing an additional 3,712 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.