JPMorgan Chase & Co. Cuts Lennar (NYSE:LEN) Price Target to $173.00

Lennar (NYSE:LEN) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $192.00 to $173.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 11.26% from the stock’s previous close.

LEN has been the topic of a number of other reports. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Bank Of America (Bofa) raised their target price on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Wells Fargo & Company dropped their target price on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Keefe, Bruyette & Woods increased their target price on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, Wedbush restated a “neutral” rating and set a $164.00 price target on shares of Lennar in a research note on Thursday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $183.76.

Lennar Trading Down 1.7 %

NYSE:LEN opened at $155.49 on Friday. Lennar has a 52 week low of $139.68 and a 52 week high of $193.80. The stock’s 50 day moving average price is $173.02 and its 200 day moving average price is $169.87. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The company has a market capitalization of $42.18 billion, a P/E ratio of 10.30, a P/E/G ratio of 1.31 and a beta of 1.61.

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

Insider Buying and Selling at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On Lennar

Large investors have recently bought and sold shares of the business. Oddo BHF Asset Management Sas bought a new stake in shares of Lennar in the 3rd quarter valued at about $2,543,000. Synovus Financial Corp raised its holdings in Lennar by 1.3% in the third quarter. Synovus Financial Corp now owns 47,348 shares of the construction company’s stock worth $8,877,000 after purchasing an additional 627 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Lennar in the 3rd quarter valued at $241,000. World Investment Advisors LLC bought a new stake in shares of Lennar in the third quarter worth about $251,000. Finally, Sanctuary Advisors LLC lifted its holdings in shares of Lennar by 9.4% during the 3rd 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. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.