Keefe, Bruyette & Woods Lowers Lennar (NYSE:LEN) Price Target to $115.00

Lennar (NYSE:LEN) had its target price dropped by stock analysts at Keefe, Bruyette & Woods from $125.00 to $115.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 2.33% from the company’s previous close.

A number of other equities analysts also recently commented on LEN. Weiss Ratings restated a “hold (c)” rating on shares of Lennar in a research note on Wednesday, October 8th. UBS Group increased their price objective on Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Raymond James Financial downgraded Lennar from a “market perform” rating to an “underperform” rating in a report on Monday, September 22nd. BTIG Research set a $90.00 target price on Lennar in a report on Thursday. Finally, Evercore ISI downgraded Lennar from an “in-line” rating to an “underperform” rating and dropped their price target for the stock from $114.00 to $92.00 in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and seven have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $114.62.

Lennar Trading Down 4.4%

Shares of NYSE LEN opened at $112.39 on Thursday. Lennar has a fifty-two week low of $98.42 and a fifty-two week high of $153.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. The company has a market cap of $28.66 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 4.92 and a beta of 1.38. The business’s 50 day moving average price is $123.12 and its 200-day moving average price is $121.60.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). Lennar had a net margin of 6.08% and a return on equity of 9.21%. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter in the previous year, the firm earned $4.03 EPS. Lennar’s revenue was down 5.8% compared to the same quarter last year. On average, sell-side analysts expect that Lennar will post 12.48 earnings per share for the current year.

Hedge Funds Weigh In On Lennar

A number of large investors have recently added to or reduced their stakes in LEN. The Manufacturers Life Insurance Company lifted its position in shares of Lennar by 45.4% during the first quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock valued at $1,020,866,000 after buying an additional 2,777,567 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Lennar by 14.6% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock worth $596,504,000 after acquiring an additional 603,004 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Lennar during the second quarter valued at approximately $424,950,000. Viking Global Investors LP boosted its stake in Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after acquiring an additional 1,172,068 shares in the last quarter. Finally, Brave Warrior Advisors LLC grew its holdings in Lennar by 23.4% in the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock worth $251,323,000 after purchasing an additional 415,218 shares during the last quarter. 81.10% of the stock is currently 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.