Lennar’s (LEN) “Underperform” Rating Reiterated at Bank of America

Lennar (NYSE:LEN)‘s stock had its “underperform” rating reiterated by analysts at Bank of America in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $95.00 price objective on the construction company’s stock, down from their previous price objective of $125.00. Bank of America‘s price objective points to a potential downside of 15.47% from the company’s current price.

A number of other brokerages also recently commented on LEN. Wedbush reissued a “neutral” rating and issued a $130.00 price target on shares of Lennar in a report on Monday, September 22nd. JMP Securities raised their price objective on shares of Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a report on Monday, September 22nd. Zacks Research raised shares of Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 4th. Raymond James Financial cut shares of Lennar from a “market perform” rating to an “underperform” rating in a research report on Monday, September 22nd. Finally, Citigroup restated an “outperform” rating on shares of Lennar in a research note on Monday, September 22nd. One 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’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $116.15.

Lennar Trading Down 4.4%

LEN opened at $112.39 on Thursday. The firm has a market capitalization of $28.66 billion, a P/E ratio of 14.07, a P/E/G ratio of 4.92 and a beta of 1.38. The firm’s 50 day moving average is $123.12 and its 200-day moving average is $121.60. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. Lennar has a 52-week low of $98.42 and a 52-week high of $153.00.

Lennar (NYSE:LEN) last released its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.27). The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.17 billion. Lennar had a return on equity of 9.21% and a net margin of 6.08%.The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the firm earned $4.03 EPS. Analysts expect that Lennar will post 12.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Lennar

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Guerra Advisors Inc acquired a new position in shares of Lennar in the 3rd quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp bought a new stake in Lennar during the third quarter worth approximately $25,000. Redmont Wealth Advisors LLC acquired a new position in Lennar in the third quarter worth approximately $26,000. FNY Investment Advisers LLC bought a new position in shares of Lennar in the second quarter valued at $33,000. Finally, Rexford Capital Inc. acquired a new stake in shares of Lennar during the 2nd quarter valued at $36,000. 81.10% of the stock is 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.