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

Lennar (NYSE:LEN) had its target price lowered by analysts at Royal Bank of Canada from $160.00 to $130.00 in a research note 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 5.85% from the company’s current price.

A number of other equities analysts also recently weighed in on LEN. Bank Of America (Bofa) upped their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Wedbush reiterated a “neutral” rating and issued a $164.00 price target on shares of Lennar in a research note on Thursday. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a research note on Friday. Citigroup lifted their target price on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company reduced their price target on Lennar from $180.00 to $165.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $175.94.

Lennar Stock Down 0.2 %

Lennar stock opened at $138.08 on Friday. Lennar has a twelve month low of $135.21 and a twelve month high of $193.80. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $168.98 and a 200-day moving average of $169.51. The stock has a market capitalization of $37.45 billion, a PE ratio of 9.14, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61.

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

Insider Transactions at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now owns 23,689 shares in the company, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lennar

Institutional investors have recently modified their holdings of the business. &PARTNERS acquired a new position in shares of Lennar during the 2nd quarter worth approximately $276,000. Quotient Wealth Partners LLC grew its position in Lennar by 5.0% during the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock worth $231,000 after buying an additional 74 shares in the last quarter. Fullcircle Wealth LLC acquired a new position in Lennar in the 2nd quarter valued at $272,000. Spirit of America Management Corp NY bought a new stake in shares of Lennar during the 2nd quarter valued at $139,000. Finally, Catalyst Financial Partners LLC acquired a new stake in shares of Lennar during the 2nd quarter worth $215,000. Institutional investors 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.