Lennar (NYSE:LEN) Given Neutral Rating at Wedbush

Lennar (NYSE:LEN)‘s stock had its “neutral” rating reissued by equities research analysts at Wedbush in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $144.00 price target on the construction company’s stock. Wedbush’s target price suggests a potential downside of 20.96% from the stock’s current price.

A number of other analysts have also recently commented on the company. Raymond James cut Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. cut their price objective on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Royal Bank of Canada restated an “underperform” rating and set a $145.00 target price on shares of Lennar in a research report on Thursday, June 20th. Evercore ISI boosted their price target on Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, The Goldman Sachs Group downgraded Lennar from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $174.61.

Lennar Price Performance

Shares of NYSE LEN opened at $182.19 on Friday. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock has a market cap of $50.03 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.61 and a beta of 1.61. The company’s 50-day moving average price is $176.53 and its 200 day moving average price is $163.99. Lennar has a 52 week low of $102.90 and a 52 week high of $193.80.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.91 EPS. As a group, research analysts forecast that Lennar will post 14.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lakewood Asset Management LLC lifted its position in shares of Lennar by 0.8% during the second quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after purchasing an additional 70 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in Lennar by 1.5% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock worth $730,000 after buying an additional 73 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in Lennar by 5.7% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock valued at $207,000 after buying an additional 74 shares during the last quarter. Quotient Wealth Partners LLC grew its stake in shares of Lennar by 5.0% during the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock valued at $231,000 after acquiring an additional 74 shares in the last quarter. Finally, BBR Partners LLC lifted its stake in shares of Lennar by 3.4% in the second quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock worth $364,000 after acquiring an additional 79 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Company Profile

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.