Wedbush Reaffirms Neutral Rating for Lennar (NYSE:LEN)

Lennar (NYSE:LEN)‘s stock had its “neutral” rating restated by Wedbush in a note issued to investors on Monday,Benzinga reports. They currently have a $158.00 price target on the construction company’s stock. Wedbush’s price target would suggest a potential upside of 33.34% from the company’s current price.

LEN has been the topic of a number of other research reports. The Goldman Sachs Group lowered their target price on Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, December 23rd. Royal Bank of Canada cut their target price on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Wells Fargo & Company decreased their price target on shares of Lennar from $145.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price objective on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Finally, Bank of America lowered their target price on Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Fourteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $165.53.

Lennar Price Performance

LEN stock opened at $118.50 on Monday. The firm has a 50-day moving average of $127.53 and a 200 day moving average of $155.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The company has a market cap of $31.46 billion, a P/E ratio of 8.23, a PEG ratio of 1.24 and a beta of 1.69. Lennar has a 1 year low of $115.61 and a 1 year high of $187.61.

Lennar (NYSE:LEN) last posted its earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $10.06 billion. During the same period in the previous year, the business posted $4.82 EPS. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, sell-side analysts forecast that Lennar will post 12.48 EPS for the current year.

Hedge Funds Weigh In On Lennar

Several hedge funds have recently modified their holdings of the stock. Armstrong Advisory Group Inc. lifted its holdings in shares of Lennar by 69.4% during the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after purchasing an additional 75 shares during the period. Crews Bank & Trust acquired a new stake in Lennar during the 4th quarter valued at approximately $25,000. Hurley Capital LLC purchased a new stake in shares of Lennar in the 4th quarter valued at $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Lennar in the fourth quarter worth $28,000. Finally, Ameriflex Group Inc. acquired a new position in Lennar during the fourth quarter valued at $30,000. Institutional investors and hedge funds 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.