Lennar (NYSE:LEN) Price Target Cut to $125.00 by Analysts at Royal Bank of Canada

Lennar (NYSE:LEN) had its price target reduced by research analysts at Royal Bank of Canada from $130.00 to $125.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the construction company’s stock. Royal Bank of Canada’s target price suggests a potential downside of 1.81% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Wolfe Research lowered Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Barclays cut their price target on Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Bank of America cut their target price on Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Wedbush reiterated a “neutral” rating and set a $164.00 price target on shares of Lennar in a research report on Thursday, December 19th. Finally, Citigroup decreased their target price on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $167.19.

Lennar Trading Down 0.1 %

LEN stock traded down $0.19 during trading on Thursday, reaching $127.31. 520,623 shares of the stock traded hands, compared to its average volume of 3,356,970. The business’s 50 day moving average price is $143.33 and its 200-day moving average price is $165.36. The firm has a market capitalization of $33.80 billion, a PE ratio of 8.89, a P/E/G ratio of 1.32 and a beta of 1.67. Lennar has a 52-week low of $125.21 and a 52-week high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The company had revenue of $9.95 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.82 EPS. As a group, sell-side analysts forecast that Lennar will post 12.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its holdings in Lennar by 1.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock worth $1,106,798,000 after buying an additional 73,638 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Lennar by 22.0% in the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after purchasing an additional 589,553 shares during the period. Smead Capital Management Inc. increased its position in shares of Lennar by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after buying an additional 89,896 shares in the last quarter. Nordea Investment Management AB increased its holdings in Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after purchasing an additional 397,492 shares in the last quarter. Finally, Bamco Inc. NY increased its holdings in Lennar by 2.6% during the 3rd quarter. Bamco Inc. NY now owns 711,023 shares of the construction company’s stock worth $133,303,000 after purchasing an additional 17,834 shares in the last quarter. 81.10% of the stock is 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.