Lennar (NYSE:LEN) Given New $85.00 Price Target at Keefe, Bruyette & Woods

Lennar (NYSE:LEN) had its price target reduced by investment analysts at Keefe, Bruyette & Woods from $86.00 to $85.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm currently has an “underperform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ price target points to a potential downside of 7.35% from the company’s current price.

Several other analysts have also recently commented on LEN. Argus dropped their target price on shares of Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Citigroup decreased their price objective on Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Zacks Research upgraded Lennar from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. Royal Bank Of Canada cut their target price on Lennar from $88.00 to $85.00 and set an “underperform” rating on the stock in a research note on Monday. Finally, Seaport Research Partners restated a “sell” rating and set a $74.00 target price (down from $140.00) on shares of Lennar in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat.com, Lennar presently has a consensus rating of “Reduce” and a consensus target price of $95.00.

Lennar Trading Up 2.2%

NYSE:LEN traded up $1.96 on Wednesday, hitting $91.74. 198,079 shares of the stock were exchanged, compared to its average volume of 2,956,707. 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. The stock has a market capitalization of $22.66 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 2.84 and a beta of 1.39. The company’s 50-day moving average price is $89.51 and its 200 day moving average price is $102.64.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The company had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $8.08 billion. During the same quarter in the previous year, the company earned $1.81 EPS. Lennar’s revenue was down 5.2% on a year-over-year basis. On average, equities research analysts forecast that Lennar will post 5.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LEN. Lazard Asset Management LLC raised its position in Lennar by 7.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after buying an additional 85 shares during the last quarter. Zions Bancorporation National Association UT grew its stake in shares of Lennar by 8.3% during the 3rd quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock worth $142,000 after acquiring an additional 86 shares in the last quarter. Rossby Financial LCC raised its holdings in shares of Lennar by 9.1% in the fourth quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock valued at $109,000 after purchasing an additional 88 shares during the last quarter. New Mexico Educational Retirement Board lifted its position in shares of Lennar by 1.0% in the fourth quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock worth $1,086,000 after purchasing an additional 100 shares in the last quarter. Finally, Provenance Wealth Advisors LLC boosted its holdings in Lennar by 23.8% during the third quarter. Provenance Wealth Advisors LLC now owns 619 shares of the construction company’s stock worth $78,000 after purchasing an additional 119 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

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.