Lennar (NYSE:LEN) Price Target Cut to $88.00 by Analysts at Citigroup

Lennar (NYSE:LEN) had its price objective dropped by investment analysts at Citigroup from $104.00 to $88.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Citigroup’s price target would indicate a potential upside of 3.32% from the stock’s previous close.

LEN has been the subject of a number of other reports. Wells Fargo & Company cut their price objective on shares of Lennar from $90.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, June 15th. Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $86.00 to $85.00 and set an “underperform” rating on the stock in a report on Wednesday, June 17th. The Goldman Sachs Group restated a “neutral” rating on shares of Lennar in a research report on Friday, June 5th. BTIG Research set a $67.00 price target on shares of Lennar in a report on Monday, June 15th. Finally, Royal Bank Of Canada decreased their price target on shares of Lennar from $88.00 to $85.00 and set an “underperform” rating on the stock in a research note on Monday, June 15th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and ten have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $92.80.

Lennar Price Performance

NYSE:LEN traded up $1.46 during trading hours on Wednesday, hitting $85.17. 896,909 shares of the stock traded hands, compared to its average volume of 2,926,163. The company has a market cap of $20.52 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 2.75 and a beta of 1.38. Lennar has a 1 year low of $81.18 and a 1 year high of $144.24. The stock has a 50 day moving average price of $88.46 and a 200 day moving average price of $98.22. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The firm had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $8.08 billion. During the same period in the prior year, the company posted $1.81 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. Sell-side analysts forecast that Lennar will post 5.52 EPS for the current fiscal year.

Institutional Trading of Lennar

Institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its stake in shares of Lennar by 19.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,546,970 shares of the construction company’s stock worth $221,176,000 after purchasing an additional 419,745 shares during the period. Viking Global Investors LP lifted its stake in Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after purchasing an additional 1,172,068 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its stake in Lennar by 90.9% in 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 purchasing an additional 934,856 shares during the last quarter. Freestone Grove Partners LP purchased a new position in shares of Lennar during the fourth quarter valued at approximately $95,941,000. Finally, Swiss National Bank grew its stake in shares of Lennar by 4.8% during the first quarter. Swiss National Bank now owns 601,468 shares of the construction company’s stock valued at $52,231,000 after buying an additional 27,500 shares during the last quarter. 81.10% of the stock is currently 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.