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

Lennar (NYSE:LEN) had its target price decreased by research analysts at Bank of America from $140.00 to $130.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. Bank of America‘s price objective would suggest a potential upside of 8.69% from the company’s previous close.

LEN has been the subject of a number of other research reports. Wedbush reissued a “neutral” rating and issued a $158.00 price objective on shares of Lennar in a research note on Monday. Citigroup cut their price target on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. The Goldman Sachs Group cut their price target 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. Keefe, Bruyette & Woods lowered shares of Lennar from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $152.00 to $141.00 in a report on Tuesday, March 11th. Finally, Barclays cut their target price on Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $164.53.

Lennar Trading Up 0.5 %

NYSE LEN traded up $0.64 during trading on Tuesday, hitting $119.60. The stock had a trading volume of 109,231 shares, compared to its average volume of 2,300,385. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. The stock has a market capitalization of $31.76 billion, a price-to-earnings ratio of 8.34, a P/E/G ratio of 1.24 and a beta of 1.69. Lennar has a one year low of $115.61 and a one year high of $187.61. The stock has a 50 day simple moving average of $127.21 and a 200 day simple moving average of $154.87.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $10.06 billion. During the same period in the previous year, the business earned $4.82 EPS. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. Sell-side analysts predict that Lennar will post 12.48 earnings per share for the current year.

Institutional Investors Weigh In On Lennar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smead Capital Management Inc. grew its position in shares of Lennar by 3.5% during 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 acquiring an additional 89,896 shares during the period. Verition Fund Management LLC grew its position in shares of Lennar by 147.6% during the 3rd quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock valued at $12,978,000 after acquiring an additional 41,264 shares during the period. Polianta Ltd acquired a new stake in shares of Lennar during the 4th quarter valued at about $900,000. Nordea Investment Management AB grew its position in shares of Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after acquiring an additional 397,492 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of Lennar by 13.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 30,278 shares of the construction company’s stock valued at $5,677,000 after acquiring an additional 3,674 shares during the period. 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.