Lennar (NYSE:LEN) Price Target Cut to $85.00 by Analysts at Royal Bank Of Canada

Lennar (NYSE:LEN) had its target price dropped by analysts at Royal Bank Of Canada from $88.00 to $85.00 in a report issued on Monday,MarketScreener reports. The brokerage presently has an “underperform” rating on the construction company’s stock. Royal Bank Of Canada’s price target would suggest a potential downside of 7.48% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Citigroup dropped their target price on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. Truist Financial lowered their target price on Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. BTIG Research set a $67.00 price target on Lennar in a research note on Monday. Evercore lowered their price target on shares of Lennar from $89.00 to $82.00 and set an “underperform” rating on the stock in a research report on Monday, April 13th. Finally, Argus dropped their price objective on Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and ten have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $95.81.

Lennar Trading Up 1.7%

NYSE LEN traded up $1.57 on Monday, reaching $91.87. The stock had a trading volume of 314,457 shares, compared to its average volume of 2,949,407. The stock has a fifty day moving average price of $89.38 and a two-hundred day moving average price of $103.22. Lennar has a 12-month low of $81.18 and a 12-month high of $144.24. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $22.69 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 2.83 and a beta of 1.39.

Lennar (NYSE:LEN) last released its earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.07. The company had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.Lennar’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 EPS. As a group, sell-side analysts forecast that Lennar will post 5.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Lennar

A number of hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC boosted its holdings in Lennar by 7.1% in the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after purchasing an additional 85 shares during the period. Zions Bancorporation National Association UT grew its stake in shares of Lennar by 8.3% in the third quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock worth $142,000 after purchasing an additional 86 shares in the last quarter. Rossby Financial LCC raised its position in shares of Lennar by 9.1% during the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock worth $109,000 after buying an additional 88 shares in the last quarter. New Mexico Educational Retirement Board increased its position in shares of Lennar by 1.0% during the 4th quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock valued at $1,086,000 after purchasing an additional 100 shares during the period. Finally, Provenance Wealth Advisors LLC lifted its holdings in Lennar by 23.8% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 619 shares of the construction company’s stock valued at $78,000 after acquiring an additional 119 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.