Lennar (NYSE:LEN) Price Target Cut to $192.00 by Analysts at UBS Group

Lennar (NYSE:LEN) had its target price lowered by UBS Group from $205.00 to $192.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. UBS Group’s target price would indicate a potential upside of 46.42% from the stock’s current price.

A number of other equities research analysts also recently issued reports on LEN. Barclays reduced their price objective on shares of Lennar from $181.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Bank of America lifted their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Bank Of America (Bofa) increased their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, Evercore ISI lowered their target price on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Lennar has a consensus rating of “Hold” and a consensus price target of $171.50.

Lennar Stock Down 1.5 %

Shares of NYSE LEN traded down $2.01 during trading hours on Wednesday, hitting $131.13. The company had a trading volume of 78,342 shares, compared to its average volume of 1,778,192. The stock has a market capitalization of $35.57 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 1.28 and a beta of 1.66. Lennar has a 1-year low of $131.13 and a 1-year high of $193.80. The firm’s 50 day moving average is $158.72 and its 200-day moving average is $168.17. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08.

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

Insider Transactions at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.36% of the stock is owned by insiders.

Hedge Funds Weigh In On Lennar

Hedge funds and other institutional investors have recently modified their holdings of the business. Strategic Financial Concepts LLC bought a new stake in shares of Lennar in the 2nd quarter worth approximately $58,000. Ballentine Partners LLC raised its stake in Lennar by 11.3% in the 2nd quarter. Ballentine Partners LLC now owns 2,785 shares of the construction company’s stock valued at $417,000 after acquiring an additional 282 shares during the period. Prudential PLC increased its stake in shares of Lennar by 58.1% in the second quarter. Prudential PLC now owns 4,044 shares of the construction company’s stock worth $606,000 after purchasing an additional 1,486 shares in the last quarter. Wedbush Securities Inc. raised its position in shares of Lennar by 17.3% in the second quarter. Wedbush Securities Inc. now owns 3,397 shares of the construction company’s stock valued at $509,000 after purchasing an additional 501 shares during the period. Finally, Choreo LLC purchased a new position in Lennar in the 2nd quarter valued at approximately $951,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

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.