Barclays Lowers Lennar (NYSE:LEN) Price Target to $135.00

Lennar (NYSE:LEN) had its price target cut by equities research analysts at Barclays from $181.00 to $135.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Barclays‘s price objective points to a potential downside of 2.23% from the stock’s previous close.

LEN has been the subject of several other reports. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a research report on Friday. JMP Securities raised their price objective on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th. Citigroup boosted their target price on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. reduced their price target on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Finally, Bank of America upped their price objective on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $175.94.

Lennar Stock Down 0.2 %

NYSE LEN opened at $138.08 on Friday. The company has a market cap of $37.45 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 1.31 and a beta of 1.61. Lennar has a 1-year low of $135.21 and a 1-year high of $193.80. The company has a current ratio of 4.90, a quick ratio of 0.98 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.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing the consensus estimate 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%. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $4.82 EPS. On average, equities research analysts expect that Lennar will post 14.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Lennar

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 sale, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its holdings in Lennar by 1.3% in the third quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock worth $1,106,798,000 after purchasing an additional 73,638 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Lennar by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after acquiring an additional 396,951 shares in the last quarter. Smead Capital Management Inc. lifted its position in shares of Lennar by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after acquiring an additional 89,896 shares during the period. D1 Capital Partners L.P. grew its holdings in Lennar by 428.9% in 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 purchasing an additional 1,962,447 shares during the period. Finally, Marshall Wace LLP increased its stake in Lennar by 20.9% in the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $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.

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.