JPMorgan Chase & Co. Cuts Lennar (NYSE:LEN) Price Target to $92.00

Lennar (NYSE:LEN) had its price target decreased by JPMorgan Chase & Co. from $97.00 to $92.00 in a research report released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the construction company’s stock.

A number of other equities research analysts also recently weighed in on the stock. UBS Group raised their target price on shares of Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company lifted their price target on shares of Lennar from $110.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 2nd. Bank of America lifted their price target on shares of Lennar from $115.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, September 18th. Zacks Research raised shares of Lennar from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Barclays decreased their price target on shares of Lennar from $110.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $123.75.

Lennar Trading Up 2.0%

Shares of LEN opened at $125.77 on Monday. The firm’s 50 day simple moving average is $126.78 and its 200 day simple moving average is $116.01. The company has a market capitalization of $32.57 billion, a P/E ratio of 12.43, a P/E/G ratio of 5.52 and a beta of 1.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. Lennar has a 1-year low of $98.42 and a 1-year high of $189.65.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. The business had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. Lennar’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the firm posted $3.90 earnings per share. Sell-side analysts forecast that Lennar will post 12.48 earnings per share for the current fiscal year.

Institutional Trading of Lennar

Large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its stake in Lennar by 7.1% during the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after buying an additional 85 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Lennar by 1.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,719 shares of the construction company’s stock worth $886,000 after buying an additional 89 shares during the last quarter. NorthRock Partners LLC boosted its stake in Lennar by 1.4% during the first quarter. NorthRock Partners LLC now owns 6,509 shares of the construction company’s stock worth $747,000 after buying an additional 93 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in Lennar by 1.1% during the first quarter. Valeo Financial Advisors LLC now owns 8,841 shares of the construction company’s stock worth $1,015,000 after buying an additional 95 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in Lennar by 2.3% during the first quarter. EP Wealth Advisors LLC now owns 4,782 shares of the construction company’s stock worth $549,000 after buying an additional 107 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

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.