JPMorgan Chase & Co. Lowers Lennar (NYSE:LEN) Price Target to $80.00

Lennar (NYSE:LEN) had its target price cut by investment analysts at JPMorgan Chase & Co. from $115.00 to $80.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 26.74% from the company’s current price.

LEN has been the subject of several other reports. Wedbush reiterated a “neutral” rating and set a $130.00 target price on shares of Lennar in a research note on Monday, September 22nd. BTIG Research set a $90.00 target price on Lennar in a research note on Thursday. Bank of America reiterated an “underperform” rating and set a $95.00 price objective (down previously from $125.00) on shares of Lennar in a research note on Thursday. Barclays lowered their price target on Lennar from $98.00 to $88.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, JMP Securities lifted their target price on Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $109.62.

Lennar Trading Down 2.7%

NYSE:LEN traded down $3.03 during mid-day trading on Thursday, reaching $109.20. The company’s stock had a trading volume of 3,051,569 shares, compared to its average volume of 3,939,855. Lennar has a twelve month low of $98.42 and a twelve month high of $144.24. The company’s fifty day simple moving average is $123.12 and its two-hundred day simple moving average is $121.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The stock has a market cap of $27.85 billion, a P/E ratio of 13.72, a P/E/G ratio of 4.92 and a beta of 1.38.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a return on equity of 9.21% and a net margin of 6.08%.The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the prior year, the company earned $4.03 earnings per share. The business’s revenue was down 5.8% compared to the same quarter last year. On average, equities analysts predict that Lennar will post 12.48 EPS for the current year.

Institutional Trading of Lennar

Several institutional investors have recently bought and sold shares of the stock. Guerra Advisors Inc acquired a new position in Lennar during the 3rd quarter worth about $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Lennar during the third quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Lennar in the third quarter valued at approximately $25,000. FNY Investment Advisers LLC bought a new position in Lennar in the 2nd quarter worth approximately $33,000. Finally, Rexford Capital Inc. bought a new position in Lennar in the 2nd quarter valued at $36,000. Institutional investors and hedge funds 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.