Lennar (NYSE:LEN) Shares Gap Down to $192.45

Lennar Co. (NYSE:LEN)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $192.45, but opened at $185.49. Lennar shares last traded at $183.75, with a volume of 642,978 shares changing hands.

Analyst Ratings Changes

A number of research analysts have issued reports on LEN shares. Evercore ISI boosted their price target on Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a report on Monday, July 15th. StockNews.com downgraded Lennar from a “buy” rating to a “hold” rating in a report on Monday, August 12th. JPMorgan Chase & Co. reduced their target price on Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Bank of America upped their target price on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Raymond James downgraded Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $174.61.

Lennar Price Performance

The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $50.43 billion, a PE ratio of 12.52, a PEG ratio of 1.61 and a beta of 1.61. The company has a 50-day moving average of $176.08 and a 200 day moving average of $163.80.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The firm had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. During the same period in the previous year, the business earned $3.91 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts predict that Lennar Co. will post 14.16 EPS for the current year.

Institutional Trading of Lennar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Boston Partners increased its stake in shares of Lennar by 21.5% in the 1st quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after acquiring an additional 4,207 shares during the last quarter. Integrated Advisors Network LLC increased its position in shares of Lennar by 177.3% during the 4th quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock worth $4,659,000 after purchasing an additional 19,985 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services increased its position in shares of Lennar by 331.8% during the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,033 shares of the construction company’s stock worth $2,069,000 after purchasing an additional 9,246 shares during the last quarter. Grayhawk Investment Strategies Inc. acquired a new stake in shares of Lennar during the 4th quarter worth about $838,000. Finally, Norden Group LLC acquired a new stake in shares of Lennar during the 1st quarter worth about $5,592,000. 81.10% of the stock is owned by institutional investors and hedge funds.

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.