Wells Fargo & Company Lowers Lennar (NYSE:LEN) Price Target to $130.00

Lennar (NYSE:LEN) had its target price decreased by investment analysts at Wells Fargo & Company from $145.00 to $130.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 6.30% from the company’s current price.

Other equities analysts have also issued research reports about the company. BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Royal Bank of Canada decreased their target price on Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. The Goldman Sachs Group decreased their target price on Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. Bank of America decreased their target price on Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, Citigroup decreased their target price on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $163.88.

Lennar Stock Performance

Shares of Lennar stock opened at $122.29 on Tuesday. Lennar has a 52 week low of $119.25 and a 52 week high of $193.80. The business’s fifty day simple moving average is $135.97 and its 200-day simple moving average is $162.41. The firm has a market cap of $32.47 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 1.28 and a beta of 1.67. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last announced its quarterly 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 net margin of 11.10% and a return on equity of 13.93%. The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same period last year, the company earned $4.82 EPS. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities analysts forecast that Lennar will post 12.52 earnings per share for the current year.

Institutional Investors Weigh In On Lennar

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its position in shares of Lennar by 23,048.0% during the 3rd quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock valued at $28,209,000 after acquiring an additional 149,812 shares during the period. Smead Capital Management Inc. raised its position in shares of Lennar by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock worth $499,991,000 after purchasing an additional 89,896 shares during the last quarter. Verition Fund Management LLC grew its stake in Lennar by 147.6% in the 3rd quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock worth $12,978,000 after acquiring an additional 41,264 shares during the period. Polianta Ltd purchased a new stake in Lennar in the 4th quarter worth approximately $900,000. Finally, OneDigital Investment Advisors LLC grew its stake in Lennar by 101.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock worth $1,626,000 after acquiring an additional 4,363 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.