Keefe, Bruyette & Woods Cuts Lennar (NYSE:LEN) Price Target to $170.00

Lennar (NYSE:LEN) had its price objective decreased by Keefe, Bruyette & Woods from $210.00 to $170.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 24.28% from the stock’s current price.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. decreased their target price on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Barclays lowered their price target on Lennar from $181.00 to $135.00 and set an “equal weight” rating on the stock in a report on Friday. StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Finally, Evercore ISI cut their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $177.38.

Lennar Trading Down 1.2 %

NYSE LEN opened at $136.79 on Friday. Lennar has a one year low of $135.21 and a one year high of $193.80. The firm has a market cap of $37.10 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 1.31 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The firm has a 50 day simple moving average of $169.78 and a 200-day simple moving average of $169.58.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company’s revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $4.82 earnings per share. Equities research analysts anticipate that Lennar will post 14.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the sale, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 9.36% of the company’s stock.

Institutional Trading of Lennar

Several hedge funds and other institutional investors have recently made changes to their positions in LEN. Moors & Cabot Inc. grew its position in Lennar by 2.2% in the 3rd quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock worth $577,000 after purchasing an additional 66 shares during the period. Centaurus Financial Inc. increased its position in shares of Lennar by 2.5% during the 3rd quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock valued at $551,000 after purchasing an additional 71 shares during the last quarter. Quotient Wealth Partners LLC boosted its holdings in shares of Lennar by 5.0% in the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock worth $231,000 after buying an additional 74 shares during the last quarter. Commerce Bank grew its position in 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. Finally, Jupiter Wealth Management LLC boosted its stake in shares of Lennar by 1.0% during the 3rd quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company’s stock worth $1,437,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

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.