Barclays Has Lowered Expectations for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its price objective cut by equities researchers at Barclays from $181.00 to $135.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the construction company’s stock. Barclays‘s price target points to a potential downside of 2.46% from the company’s current price.

A number of other research analysts have also recently weighed in on LEN. Royal Bank of Canada boosted their target price on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research note on Monday, September 23rd. JMP Securities lifted their price target on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Wells Fargo & Company reduced their price objective on Lennar from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Tuesday. BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a research note on Friday. Finally, Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $181.13.

Lennar Stock Performance

Shares of LEN stock opened at $138.40 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The firm has a 50-day moving average of $169.78 and a 200-day moving average of $169.58. Lennar has a one year low of $135.21 and a one year high of $193.80. The company has a market cap of $37.54 billion, a P/E ratio of 9.17, a P/E/G ratio of 1.31 and a beta of 1.61.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($0.12). The business had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $10.06 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $4.82 EPS. Equities research analysts forecast that Lennar will post 14.11 EPS for the current fiscal year.

Insider Activity

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the transaction, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Oddo BHF Asset Management Sas purchased a new stake in shares of Lennar during the third quarter valued at approximately $2,543,000. Synovus Financial Corp grew its holdings in Lennar by 1.3% in the 3rd quarter. Synovus Financial Corp now owns 47,348 shares of the construction company’s stock worth $8,877,000 after acquiring an additional 627 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Lennar in the third quarter valued at about $241,000. World Investment Advisors LLC bought a new position in shares of Lennar during the third quarter valued at about $251,000. Finally, Sanctuary Advisors LLC grew its stake in shares of Lennar by 9.4% in the third quarter. Sanctuary Advisors LLC now owns 43,049 shares of the construction company’s stock worth $8,071,000 after purchasing an additional 3,712 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.