The Goldman Sachs Group Has Lowered Expectations for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its target price lowered by stock analysts at The Goldman Sachs Group from $141.00 to $120.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 0.47% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada dropped their price objective on Lennar from $125.00 to $122.00 and set a “sector perform” rating on the stock in a research note on Monday. Wolfe Research downgraded Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. UBS Group lowered their price objective on Lennar from $183.00 to $164.00 and set a “buy” rating on the stock in a research note on Monday. Bank of America reduced their target price on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $158.00 price objective on shares of Lennar in a report on Monday, March 17th. Fifteen investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $151.07.

Lennar Stock Performance

Shares of NYSE LEN traded up $1.88 during midday trading on Tuesday, reaching $119.44. The company’s stock had a trading volume of 1,066,684 shares, compared to its average volume of 3,380,769. The firm has a 50 day moving average price of $125.81 and a 200-day moving average price of $152.70. 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 has a 12-month low of $111.26 and a 12-month high of $193.80. The stock has a market capitalization of $31.71 billion, a P/E ratio of 8.33, a PEG ratio of 1.24 and a beta of 1.69.

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. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. During the same period in the previous year, the firm earned $2.57 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities analysts predict that Lennar will post 12.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Great Valley Advisor Group Inc. purchased a new position in Lennar in the 3rd quarter worth approximately $235,000. Kingsview Wealth Management LLC lifted its stake in shares of Lennar by 275.4% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,113 shares of the construction company’s stock valued at $959,000 after purchasing an additional 3,751 shares during the period. Swedbank AB grew its stake in Lennar by 5.4% in the third quarter. Swedbank AB now owns 164,709 shares of the construction company’s stock worth $30,880,000 after purchasing an additional 8,405 shares during the period. Centaurus Financial Inc. raised its holdings in Lennar by 2.5% in the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock worth $551,000 after purchasing an additional 71 shares in the last quarter. Finally, Summit Trail Advisors LLC lifted its position in Lennar by 36.7% during the third quarter. Summit Trail Advisors LLC now owns 2,990 shares of the construction company’s stock valued at $561,000 after buying an additional 803 shares during the period. 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.