Lennar (NYSE:LEN) Receives “Neutral” Rating from Wedbush

Lennar (NYSE:LEN)‘s stock had its “neutral” rating reissued by Wedbush in a research report issued on Friday, Benzinga reports. They currently have a $144.00 target price on the construction company’s stock. Wedbush’s price target indicates a potential downside of 25.18% from the company’s previous close.

LEN has been the subject of several other research reports. StockNews.com cut Lennar from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Keefe, Bruyette & Woods increased their price objective on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. lowered their target price on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Citigroup reiterated a “neutral” rating and issued a $164.00 price target (down previously from $174.00) on shares of Lennar in a research note on Tuesday, July 2nd. Finally, Raymond James lowered shares of 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, nine have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $173.71.

Lennar Stock Performance

Shares of Lennar stock opened at $192.45 on Friday. The company has a market capitalization of $52.85 billion, a PE ratio of 13.08, a PEG ratio of 1.61 and a beta of 1.61. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $176.08 and its 200 day simple moving average is $163.80. Lennar has a 12 month low of $102.90 and a 12 month high of $193.80.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. The business had revenue of $9.42 billion for 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 firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the business posted $3.91 earnings per share. On average, research analysts predict that Lennar will post 14.16 EPS for the current year.

Hedge Funds Weigh In On Lennar

Several institutional investors and hedge funds have recently made changes to their positions in LEN. Lakewood Asset Management LLC grew its holdings in Lennar by 0.8% in the 2nd quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock valued at $1,407,000 after buying an additional 70 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of Lennar by 1.5% in the second quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock valued at $730,000 after acquiring an additional 73 shares in the last quarter. Aaron Wealth Advisors LLC raised its stake in Lennar by 5.7% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock worth $207,000 after purchasing an additional 74 shares in the last quarter. Quotient Wealth Partners LLC boosted its holdings in Lennar by 5.0% in the 2nd quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock valued at $231,000 after purchasing an additional 74 shares during the period. Finally, BBR Partners LLC grew its position in shares of Lennar by 3.4% during the 2nd quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock worth $364,000 after purchasing an additional 79 shares in the last quarter. 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.