Lennar (NYSE:LEN) Price Target Lowered to $97.00 at Keefe, Bruyette & Woods

Lennar (NYSE:LEN) had its price objective dropped by research analysts at Keefe, Bruyette & Woods from $105.00 to $97.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 12.21% from the stock’s previous close.

A number of other research firms have also weighed in on LEN. UBS Group reduced their price objective on shares of Lennar from $122.00 to $107.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. Wells Fargo & Company cut their price target on Lennar from $105.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday, March 16th. BTIG Research set a $90.00 price target on Lennar in a research report on Thursday, December 18th. Zacks Research upgraded Lennar from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Finally, The Goldman Sachs Group dropped their price objective on Lennar from $125.00 to $118.00 and set a “neutral” rating on the stock in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat, Lennar presently has a consensus rating of “Reduce” and an average price target of $101.14.

Lennar Stock Performance

Lennar stock traded down $0.39 during midday trading on Wednesday, reaching $86.45. The stock had a trading volume of 1,034,460 shares, compared to its average volume of 3,140,616. The firm has a market capitalization of $21.35 billion, a PE ratio of 12.45, a P/E/G ratio of 1.80 and a beta of 1.43. Lennar has a 12 month low of $84.38 and a 12 month high of $144.24. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average price is $106.87 and its 200 day moving average price is $115.74.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.07). Lennar had a return on equity of 7.80% and a net margin of 5.39%.The business had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the business earned $2.14 EPS. Lennar’s revenue for the quarter was down 13.3% on a year-over-year basis. As a group, research analysts predict that Lennar will post 12.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lennar

Several large investors have recently added to or reduced their stakes in LEN. Brighton Jones LLC boosted its position in shares of Lennar by 27.9% during the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock valued at $236,000 after acquiring an additional 377 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Lennar by 29.8% during the first quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock worth $1,589,000 after purchasing an additional 3,177 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Lennar by 24.1% in the second quarter. Mackenzie Financial Corp now owns 113,948 shares of the construction company’s stock worth $12,604,000 after purchasing an additional 22,144 shares during the last quarter. Van Hulzen Asset Management LLC raised its stake in Lennar by 26.3% in the second quarter. Van Hulzen Asset Management LLC now owns 3,819 shares of the construction company’s stock valued at $422,000 after purchasing an additional 796 shares in the last quarter. Finally, CW Advisors LLC lifted its position in Lennar by 64.8% during the second quarter. CW Advisors LLC now owns 28,016 shares of the construction company’s stock valued at $3,099,000 after purchasing an additional 11,012 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

About Lennar

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.