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

Lennar (NYSE:LEN) had its target price dropped by equities research analysts at Bank of America from $140.00 to $130.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Bank of America‘s price target indicates a potential upside of 8.69% from the company’s current price.

Several other analysts have also commented on LEN. BTIG Research lowered shares of Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. dropped their target price on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, December 13th. UBS Group dropped their target price on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Wolfe Research downgraded shares of Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, Barclays dropped their price target on shares of Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Fourteen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $164.53.

Lennar Price Performance

LEN traded up $0.64 during trading on Tuesday, reaching $119.60. The company’s stock had a trading volume of 109,231 shares, compared to its average volume of 2,300,385. The company has a market cap of $31.76 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 1.24 and a beta of 1.69. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $127.21 and a two-hundred day simple moving average of $154.87. Lennar has a 1 year low of $115.61 and a 1 year high of $187.61.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.82 EPS. As a group, analysts anticipate that Lennar will post 12.48 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LEN. Moors & Cabot Inc. lifted its stake in shares of Lennar by 2.2% during the third quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock valued at $577,000 after buying an additional 66 shares during the period. Centaurus Financial Inc. lifted its stake in shares of Lennar by 2.5% during the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock valued at $551,000 after buying an additional 71 shares during the period. Commerce Bank lifted its stake in shares of Lennar by 0.5% during the third quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock valued at $2,826,000 after buying an additional 74 shares during the period. Armstrong Advisory Group Inc. lifted its stake in shares of Lennar by 69.4% during the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after buying an additional 75 shares during the period. Finally, Wolff Wiese Magana LLC lifted its stake in shares of Lennar by 51.0% during the fourth quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock valued at $32,000 after buying an additional 79 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Company Profile

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.