Bank of America Lowers Lennar (NYSE:LEN) Price Target to $130.00

Lennar (NYSE:LEN) had its price target dropped by equities researchers at Bank of America from $140.00 to $130.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. Bank of America‘s price target would suggest a potential upside of 7.84% from the company’s current price.

LEN has been the topic of several other reports. Wolfe Research lowered shares of Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut their target price on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. The Goldman Sachs Group cut their target price on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, December 23rd. BTIG Research lowered shares of Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, Wells Fargo & Company dropped their price objective on shares of Lennar from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Tuesday. Fourteen investment 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $164.53.

Lennar Trading Up 1.7 %

Shares of NYSE LEN opened at $120.55 on Tuesday. The company’s 50 day simple moving average is $126.66 and its 200 day simple moving average is $154.18. 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 firm has a market capitalization of $32.01 billion, a P/E ratio of 8.41, a P/E/G ratio of 1.24 and a beta of 1.69. Lennar has a fifty-two week low of $115.61 and a fifty-two week high of $187.61.

Lennar (NYSE:LEN) last posted its 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 firm had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the business posted $4.82 earnings per share. On average, analysts predict that Lennar will post 12.48 EPS for the current year.

Institutional Investors Weigh In On Lennar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crews Bank & Trust acquired a new position in shares of Lennar during the 4th quarter worth about $25,000. Armstrong Advisory Group Inc. increased its stake in shares of Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after purchasing an additional 75 shares during the last quarter. Hurley Capital LLC acquired a new position in shares of Lennar during the 4th quarter worth about $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Lennar during the 4th quarter worth about $28,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Lennar during the 3rd quarter worth about $39,000. 81.10% of the stock is owned by institutional investors.

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.