Wedbush Reaffirms “Neutral” Rating for Lennar (NYSE:LEN)

Wedbush reissued their neutral rating on shares of Lennar (NYSE:LEN) in a research note published on Friday morning, Benzinga reports. Wedbush currently has a $144.00 price target on the construction company’s stock.

A number of other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Lennar from $157.00 to $154.00 and set a neutral rating for the company in a report on Thursday, June 20th. The Goldman Sachs Group lowered shares of Lennar from a buy rating to a neutral rating and reduced their target price for the stock from $180.00 to $174.00 in a research report on Monday, July 22nd. BTIG Research lowered their price target on shares of Lennar from $177.00 to $175.00 and set a buy rating for the company in a report on Thursday, June 20th. Wells Fargo & Company increased their price objective on Lennar from $195.00 to $205.00 and gave the company an overweight rating in a research report on Monday, September 9th. Finally, Argus boosted their target price on Lennar from $175.00 to $180.00 and gave the stock a buy rating in a research report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $174.61.

Lennar Stock Down 5.3 %

LEN opened at $182.19 on Friday. Lennar has a twelve month low of $102.90 and a twelve month high of $193.80. The firm has a market cap of $50.03 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.61 and a beta of 1.61. The firm’s 50-day simple moving average is $176.53 and its 200-day simple moving average is $164.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $3.91 earnings per share. Equities research analysts anticipate that Lennar will post 14.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Rise Advisors LLC increased its position in Lennar by 484.0% during the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after buying an additional 121 shares during the last quarter. J.Safra Asset Management Corp bought a new position in shares of Lennar in the first quarter valued at about $30,000. New Covenant Trust Company N.A. acquired a new stake in shares of Lennar during the 1st quarter worth about $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Lennar during the 1st quarter worth about $35,000. Finally, Fortitude Family Office LLC grew its stake in Lennar by 223.6% in the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after buying an additional 161 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Company Profile

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.