Lennox International (NYSE:LII) Stock Gets Price Target Cut from Wells Fargo & Company

Lennox International (NYSE:LII) had its target price lowered by Wells Fargo & Company from $424.00 to $355.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an equal weight rating on the construction company’s stock.

A number of other research analysts have also commented on LII. Oppenheimer lowered shares of Lennox International from an “outperform” rating to a “market perform” rating in a research report on Thursday. Weiss Ratings cut shares of Lennox International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Morgan Stanley lowered their price target on Lennox International from $375.00 to $350.00 and set an “underweight” rating on the stock in a research note on Thursday, October 15th. Deutsche Bank Aktiengesellschaft lowered Lennox International from a “buy” rating to a “hold” rating and lowered their price target for the company from $609.00 to $444.00 in a research note on Monday, September 14th. Finally, Royal Bank Of Canada cut their price target on Lennox International from $469.00 to $406.00 and set a “sector perform” rating for the company in a report on Wednesday, October 14th. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $444.85.

Lennox International Stock Performance

LII opened at $344.09 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.21 and a debt-to-equity ratio of 0.64. The stock’s 50 day moving average price is $368.34 and its two-hundred day moving average price is $472.06. The firm has a market capitalization of $11.77 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 1.58 and a beta of 1.16. Lennox International has a 12-month low of $322.00 and a 12-month high of $587.27.

Lennox International (NYSE:LII) last posted its quarterly earnings data on Wednesday, October 28th. The construction company reported $6.84 earnings per share for the quarter, missing the consensus estimate of $7.29 by ($0.45). The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.57 billion. Lennox International had a net margin of 13.77% and a return on equity of 62.34%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $6.98 earnings per share. On average, equities analysts forecast that Lennox International will post 21.37 earnings per share for the current year.

Lennox International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $1.36 dividend. This represents a $5.44 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, September 30th. Lennox International’s dividend payout ratio is 25.24%.

Institutional Investors Weigh In On Lennox International

Institutional investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC acquired a new position in shares of Lennox International in the 3rd quarter worth approximately $269,000. Greenleaf Trust grew its position in Lennox International by 34.9% during the 3rd quarter. Greenleaf Trust now owns 739 shares of the construction company’s stock worth $262,000 after acquiring an additional 191 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Lennox International during the 3rd quarter valued at $3,092,000. ProShare Advisors LLC increased its holdings in Lennox International by 12.0% during the 3rd quarter. ProShare Advisors LLC now owns 5,492 shares of the construction company’s stock valued at $1,950,000 after purchasing an additional 589 shares in the last quarter. Finally, Vise Technologies Inc. increased its holdings in Lennox International by 416.6% during the 3rd quarter. Vise Technologies Inc. now owns 4,536 shares of the construction company’s stock valued at $1,610,000 after purchasing an additional 3,658 shares in the last quarter. 67.07% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Lennox International

Here are the key news stories impacting Lennox International this week:

• Positive Sentiment: Third-quarter revenue increased 10.2% year over year to approximately $1.57 billion, while the Building Climate Solutions segment grew 24%, supporting commercial-market expansion. Lennox: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Lennox added smart thermostat energy-saving services, which could strengthen its connected-home offering and create additional recurring-service opportunities. Lennox International Adds Smart Thermostat Energy Saving Services
• Neutral Sentiment: BNP Paribas Exane lowered its price target from $450 to $350 and assigned a neutral rating. RBC also cut its target from $406 to $378 while maintaining a sector-perform view, indicating analysts see limited near-term upside despite the lower share price. BNP Paribas Exane Lennox Rating
• Negative Sentiment: Lennox reported adjusted earnings of $6.84 per share, below the $7.29 analyst consensus and down from $6.98 a year earlier. The earnings miss, along with lower guidance and margin pressure, weakened investor confidence. Lennox Downgraded at Oppenheimer
• Negative Sentiment: Oppenheimer downgraded LII to perform from outperform, while Stephens moved to equal weight and Wells Fargo cut its target from $424 to $355. Analysts cited inflation, competition and a slower-than-expected recovery, contributing to the stock’s move below its 50-day moving average and new one-year low. Lennox Stock Price Crosses Below 50-Day Moving Average

Lennox International Company Profile

Lennox International Inc is a heating, ventilation, air conditioning and refrigeration company headquartered in Richardson, Texas. Founded in 1895 by Dave Lennox, the company develops and markets products designed to provide climate control and improve indoor air quality in residential and commercial buildings.

Its product portfolio includes air conditioners, heat pumps, furnaces, air handlers, thermostats, indoor air-quality equipment and related controls. Lennox also provides commercial heating and cooling systems, replacement components, installation support and other services through distributors, dealers and contractors.

Lennox primarily serves customers in the United States and Canada, with products and services also marketed in selected international markets.