Lennar (NYSE:LEN) Given New $130.00 Price Target at Royal Bank of Canada

Lennar (NYSE:LENGet Free Report) had its target price dropped by analysts at Royal Bank of Canada from $160.00 to $130.00 in a report released on Friday,Benzinga reports. The firm presently has an “underperform” rating on the construction company’s stock. Royal Bank of Canada’s price target suggests a potential downside of 5.52% from the stock’s previous close.

A number of other brokerages also recently issued reports on LEN. Bank Of America (Bofa) increased their target price on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Barclays reduced their target price on Lennar from $181.00 to $135.00 and set an “equal weight” rating for the company in a report on Friday. JPMorgan Chase & Co. lowered their price target on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Bank of America raised their price objective on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $210.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $175.94.

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Lennar Stock Performance

Shares of Lennar stock traded down $0.81 during trading hours on Friday, hitting $137.59. 675,185 shares of the company were exchanged, compared to its average volume of 2,071,504. The business has a 50-day moving average of $169.78 and a 200-day moving average of $169.58. Lennar has a 1 year low of $135.21 and a 1 year high of $193.80. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $37.32 billion, a price-to-earnings ratio of 9.11, a P/E/G ratio of 1.31 and a beta of 1.61.

Lennar (NYSE:LENGet Free Report) last released its earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same quarter last year, the business posted $4.82 EPS. The firm’s revenue was down 9.3% on a year-over-year basis. As a group, analysts expect that Lennar will post 14.11 EPS for the current fiscal year.

Insider Activity at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the transaction, the director now directly 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 legal filing with the SEC, which is accessible through this link. Insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On Lennar

Several institutional investors have recently added to or reduced their stakes in LEN. Oakworth Capital Inc. purchased a new stake in Lennar in the 3rd quarter valued at about $27,000. Wolff Wiese Magana LLC boosted its position in shares of Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after acquiring an additional 140 shares during the last quarter. GHP Investment Advisors Inc. purchased a new stake in Lennar in the third quarter valued at approximately $30,000. Asset Dedication LLC increased its position in Lennar by 4,225.0% during the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after purchasing an additional 169 shares during the last quarter. Finally, DT Investment Partners LLC raised its stake in Lennar by 523.3% during the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after purchasing an additional 157 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Lennar (NYSE:LEN)

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