Lennar (NYSE:LEN) Price Target Lowered to $130.00 at Royal Bank of Canada

Lennar (NYSE:LEN) had its target price cut by research analysts at Royal Bank of Canada from $160.00 to $130.00 in a report issued on Friday,Benzinga reports. The firm currently has an “underperform” rating on the construction company’s stock. Royal Bank of Canada’s price target would suggest a potential downside of 5.52% from the stock’s previous close.

Several other research analysts have also weighed in on LEN. Barclays lowered their target price on shares of Lennar from $181.00 to $135.00 and set an “equal weight” rating for the company in a research note on Friday. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a report on Friday. UBS Group decreased their price target on Lennar from $225.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday. JPMorgan Chase & Co. dropped their price objective on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Finally, Wells Fargo & Company decreased their target price on Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $175.94.

Lennar Trading Down 0.6 %

Shares of NYSE LEN traded down $0.81 during midday trading on Friday, reaching $137.59. 675,185 shares of the stock were exchanged, compared to its average volume of 2,071,504. The stock has a market capitalization of $37.32 billion, a P/E ratio of 9.11, a PEG ratio of 1.31 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The company has a 50 day simple moving average of $169.78 and a 200 day simple moving average of $169.58. Lennar has a twelve month low of $135.21 and a twelve month high of $193.80.

Lennar (NYSE:LEN) last posted its earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 11.51% and a return on equity of 15.47%. Lennar’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.82 EPS. As a group, equities analysts expect that Lennar will post 14.11 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LEN. Oakworth Capital Inc. purchased a new stake in Lennar in the third quarter valued at $27,000. Wolff Wiese Magana LLC grew its stake in Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after buying an additional 140 shares during the last quarter. GHP Investment Advisors Inc. acquired a new position in Lennar during the third quarter worth approximately $30,000. Asset Dedication LLC boosted its holdings in shares of Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after acquiring an additional 169 shares during the period. Finally, DT Investment Partners LLC increased its holdings in shares of Lennar by 523.3% in the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock valued at $35,000 after acquiring an additional 157 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.