Lennar (NYSE:LEN) Price Target Lowered to $85.00 at Royal Bank Of Canada

Lennar (NYSE:LEN) had its price objective decreased by Royal Bank Of Canada from $88.00 to $85.00 in a research note issued on Monday,MarketScreener reports. The brokerage presently has an “underperform” rating on the construction company’s stock. Royal Bank Of Canada’s target price would suggest a potential downside of 7.48% from the company’s previous close.

Other research analysts have also issued reports about the company. Barclays set a $79.00 price objective on Lennar and gave the company an “underweight” rating in a research report on Monday. Wells Fargo & Company set a $85.00 price objective on Lennar and gave the stock an “equal weight” rating in a research report on Monday. Seaport Research Partners reissued a “sell” rating and issued a $74.00 target price (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. Zacks Research upgraded Lennar from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Finally, Citigroup lowered their price target on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and ten have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $95.81.

Lennar Stock Up 1.7%

Shares of NYSE LEN traded up $1.57 during trading hours on Monday, hitting $91.87. The stock had a trading volume of 314,457 shares, compared to its average volume of 2,949,407. The company has a market capitalization of $22.69 billion, a P/E ratio of 14.31, a P/E/G ratio of 2.83 and a beta of 1.39. The firm’s 50-day moving average price is $89.38 and its two-hundred day moving average price is $103.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. Lennar has a 52 week low of $81.18 and a 52 week high of $144.24.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC lifted its holdings in Lennar by 7.1% during the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after purchasing an additional 85 shares during the last quarter. Zions Bancorporation National Association UT raised its position in shares of Lennar by 8.3% in the third quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock valued at $142,000 after purchasing an additional 86 shares during the period. Rossby Financial LCC lifted its stake in shares of Lennar by 9.1% during the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock valued at $109,000 after buying an additional 88 shares in the last quarter. New Mexico Educational Retirement Board grew its stake in Lennar by 1.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock valued at $1,086,000 after buying an additional 100 shares in the last quarter. Finally, Provenance Wealth Advisors LLC raised its holdings in Lennar by 23.8% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 619 shares of the construction company’s stock valued at $78,000 after acquiring an additional 119 shares during the period. 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.