Lennar (NYSE:LEN) Price Target Lowered to $85.00 at Keefe, Bruyette & Woods

Lennar (NYSE:LEN) had its target price decreased by equities researchers at Keefe, Bruyette & Woods from $86.00 to $85.00 in a research note issued on Wednesday,MarketScreener reports. The firm presently has an “underperform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ price target points to a potential downside of 7.35% from the stock’s previous close.

A number of other equities analysts also recently weighed in on LEN. Bank of America lowered their target price on shares of Lennar from $84.00 to $77.00 and set an “underperform” rating on the stock in a report on Friday, June 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of Lennar in a research report on Thursday, June 11th. Wells Fargo & Company dropped their target price on shares of Lennar from $90.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday. UBS Group cut their target price on shares of Lennar from $107.00 to $94.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on Lennar from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat, Lennar currently has an average rating of “Reduce” and an average target price of $95.00.

Lennar Stock Up 2.2%

LEN traded up $1.96 on Wednesday, hitting $91.74. 198,079 shares of the company were exchanged, compared to its average volume of 2,956,707. The stock’s fifty day moving average is $89.51 and its 200-day moving average is $102.64. Lennar has a 12 month low of $81.18 and a 12 month high of $144.24. 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 cap of $22.66 billion, a PE ratio of 14.32, a PEG ratio of 2.84 and a beta of 1.39.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share 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 analyst estimates of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.81 EPS. Equities research analysts predict that Lennar will post 5.79 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 business. Brighton Jones LLC increased its holdings in shares of Lennar by 27.9% during the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after purchasing an additional 377 shares during the period. Intech Investment Management LLC boosted its stake in shares of Lennar by 29.8% in the first quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock valued at $1,589,000 after buying an additional 3,177 shares during the period. Jump Financial LLC grew its position in Lennar by 15.0% during the second quarter. Jump Financial LLC now owns 25,622 shares of the construction company’s stock worth $2,834,000 after buying an additional 3,345 shares in the last quarter. Cary Street Partners Financial LLC bought a new position in Lennar during the 2nd quarter worth $47,000. Finally, Daiwa Securities Group Inc. raised its holdings in Lennar by 4.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 34,958 shares of the construction company’s stock valued at $3,867,000 after acquiring an additional 1,544 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

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.