JPMorgan Chase & Co. Issues Pessimistic Forecast for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its price target lowered by equities researchers at JPMorgan Chase & Co. from $80.00 to $77.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 14.19% from the stock’s current price.

Several other analysts also recently commented on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Lennar in a report on Thursday. Truist Financial cut their price target 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 report on Monday. BofA cut their price target on Lennar from $88.00 to $84.00 and set an “underperform” rating on the stock in a report on Friday. Finally, Citigroup cut their price target on Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and ten have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $95.19.

Lennar Stock Performance

Shares of LEN stock opened at $89.73 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. The company has a market capitalization of $22.16 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 2.83 and a beta of 1.39. The company’s 50 day moving average price is $89.44 and its two-hundred day moving average price is $102.93. Lennar has a 52 week low of $81.18 and a 52 week high of $144.24.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.24 by $0.07. The firm had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the company posted $1.81 EPS. On average, analysts expect that Lennar will post 5.85 earnings per share for the current fiscal year.

Institutional Trading of Lennar

A number of hedge funds and other institutional investors have recently modified their holdings of LEN. KERR FINANCIAL PLANNING Corp bought a new position in shares of Lennar in the third quarter valued at $25,000. Redmont Wealth Advisors LLC acquired a new stake in Lennar during the third quarter worth approximately $26,000. Phillip James Consulting Co. acquired a new stake in Lennar during the first quarter worth approximately $30,000. High Point Wealth Management LLC acquired a new stake in Lennar during the fourth quarter worth approximately $31,000. Finally, DV Equities LLC acquired a new stake in Lennar during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Company Profile

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.