Lennar (NYSE:LEN) Price Target Cut to $122.00 by Analysts at Royal Bank of Canada

Lennar (NYSE:LEN) had its price target cut by stock analysts at Royal Bank of Canada from $125.00 to $122.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the construction company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 6.00% from the stock’s current price.

Several other research firms also recently commented on LEN. JPMorgan Chase & Co. lowered their price objective on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. BTIG Research cut Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. UBS Group reduced their price objective on Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods downgraded Lennar from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $152.00 to $141.00 in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group reduced their price target on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, December 23rd. Fifteen equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $156.60.

Lennar Stock Down 4.1 %

Shares of LEN stock opened at $115.09 on Monday. The stock’s fifty day moving average price is $126.09 and its 200 day moving average price is $153.13. Lennar has a 1-year low of $111.26 and a 1-year high of $187.61. The company has a market cap of $30.56 billion, a price-to-earnings ratio of 8.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.44. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.57 earnings per share. On average, research analysts expect that Lennar will post 12.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lennar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LEN. Castlekeep Investment Advisors LLC acquired a new position in shares of Lennar during the 4th quarter worth about $218,533,000. Holocene Advisors LP purchased a new position in shares of Lennar in the third quarter valued at approximately $115,229,000. Pacer Advisors Inc. boosted its stake in shares of Lennar by 22.0% in the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock worth $446,110,000 after acquiring an additional 589,553 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Lennar by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock worth $441,769,000 after purchasing an additional 515,378 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in Lennar by 21.4% in the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after purchasing an additional 397,492 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.