Lennar (NYSE:LEN) Downgraded by BTIG Research to Neutral

Lennar (NYSE:LEN) was downgraded by analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued on Friday, Marketbeat reports.

Several other analysts have also weighed in on the company. JMP Securities increased their price target on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Wednesday, September 25th. Keefe, Bruyette & Woods raised their target price on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Royal Bank of Canada upped their price target on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. Barclays lowered Lennar from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $210.00 to $181.00 in a research report on Wednesday, December 11th. Finally, Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $175.94.

Lennar Price Performance

Lennar stock opened at $138.08 on Friday. Lennar has a 52-week low of $135.21 and a 52-week high of $193.80. The company has a market cap of $37.45 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 1.31 and a beta of 1.61. The firm’s fifty day moving average is $168.98 and its 200 day moving average is $169.51. The company has a quick ratio of 0.98, a current ratio of 4.90 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 analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a net margin of 11.51% and a return on equity of 15.47%. 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 was down 9.3% on a year-over-year basis. Sell-side analysts forecast that Lennar will post 14.11 EPS for the current fiscal year.

Insider Activity

In other 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 of the company’s stock, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their position. The transaction 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 and hedge funds have recently added to or reduced their stakes in LEN. Moors & Cabot Inc. boosted its holdings in shares of Lennar by 2.2% in the 3rd quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock valued at $577,000 after buying an additional 66 shares in the last quarter. Centaurus Financial Inc. lifted its position in Lennar by 2.5% during the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock valued at $551,000 after acquiring an additional 71 shares during the last quarter. Quotient Wealth Partners LLC boosted its stake in Lennar by 5.0% in 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. Commerce Bank increased its position in shares of Lennar by 0.5% during the third quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock worth $2,826,000 after purchasing an additional 74 shares in the last quarter. Finally, Jupiter Wealth Management LLC lifted its holdings in shares of Lennar by 1.0% during the 3rd quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company’s stock valued at $1,437,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors 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.