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

Lennar (NYSE:LEN) had its target price cut by stock analysts at Royal Bank of Canada from $160.00 to $130.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “underperform” rating on the construction company’s stock. Royal Bank of Canada’s target price would indicate a potential downside of 5.85% from the company’s current price.

Several other research firms have also weighed in on LEN. Keefe, Bruyette & Woods lowered their price objective on Lennar from $210.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday. Wells Fargo & Company dropped their price objective on Lennar from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. JMP Securities increased their target price on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. Finally, BTIG Research lowered shares of Lennar from a “buy” rating to a “neutral” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $175.94.

Lennar Price Performance

Shares of LEN stock opened at $138.08 on Friday. The company has a market capitalization of $37.45 billion, a P/E ratio of 9.14, a P/E/G ratio of 1.31 and a beta of 1.61. Lennar has a 12 month low of $135.21 and a 12 month high of $193.80. The stock has a 50 day moving average of $168.98 and a two-hundred day moving average of $169.51. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last released its quarterly earnings data 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 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 was down 9.3% on a year-over-year basis. During the same period in the previous year, the business posted $4.82 earnings per share. As a group, equities analysts expect that Lennar will post 14.11 EPS for the current year.

Insider Buying and Selling

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the sale, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lennar

Institutional investors have recently made changes to their positions in the stock. D1 Capital Partners L.P. boosted its holdings in Lennar by 428.9% during the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after buying an additional 1,962,447 shares during the last quarter. Holocene Advisors LP bought a new position in Lennar during the 3rd quarter worth approximately $115,229,000. Pacer Advisors Inc. increased its stake in Lennar by 15.1% in the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after purchasing an additional 396,951 shares in the last quarter. KBC Group NV raised its holdings in Lennar by 258.3% in the third quarter. KBC Group NV now owns 494,848 shares of the construction company’s stock worth $92,774,000 after purchasing an additional 356,731 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Lennar by 20.9% during the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after purchasing an additional 348,553 shares in the last quarter. 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.