Keefe, Bruyette & Woods Lowers Lennar (NYSE:LEN) Price Target to $105.00

Lennar (NYSE:LEN) had its price target lowered by stock analysts at Keefe, Bruyette & Woods from $115.00 to $105.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 8.22% from the stock’s current price.

Several other research firms have also weighed in on LEN. Wall Street Zen lowered Lennar from a “hold” rating to a “sell” rating in a report on Monday, December 8th. Barclays lowered their price objective on Lennar from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday. Royal Bank Of Canada set a $88.00 target price on Lennar in a report on Friday, January 9th. Weiss Ratings cut Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Truist Financial lowered their price target on Lennar from $110.00 to $95.00 and set a “hold” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat, Lennar currently has a consensus rating of “Reduce” and an average target price of $102.07.

Lennar Stock Performance

LEN stock opened at $97.03 on Wednesday. The firm has a 50 day moving average of $112.14 and a two-hundred day moving average of $119.01. Lennar has a 12 month low of $92.17 and a 12 month high of $144.24. The company has a market capitalization of $23.96 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.39 and a beta of 1.43. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The business had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.14 EPS. As a group, equities analysts anticipate that Lennar will post 12.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LEN. Viking Global Investors LP boosted its position in shares of Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after acquiring an additional 1,172,068 shares during the period. Van Lanschot Kempen Investment Management N.V. increased its position in Lennar by 90.9% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company’s stock worth $201,835,000 after acquiring an additional 934,856 shares during the period. Freestone Grove Partners LP acquired a new position in Lennar during the 4th quarter valued at $95,941,000. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Lennar by 14.6% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock valued at $596,504,000 after purchasing an additional 603,004 shares during the period. Finally, Bank of Nova Scotia grew its position in Lennar by 1,303.1% in the 4th quarter. Bank of Nova Scotia now owns 490,105 shares of the construction company’s stock worth $50,383,000 after purchasing an additional 455,174 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.