Lennar (NYSE:LEN) Given New $121.00 Price Target at Barclays

Lennar (NYSE:LEN) had its price target dropped by investment analysts at Barclays from $135.00 to $121.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the construction company’s stock. Barclays‘s target price would indicate a potential downside of 10.52% from the stock’s previous close.

A number of other analysts have also recently commented on LEN. Citigroup cut their price objective on Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada upgraded Lennar from an “underperform” rating to a “sector perform” rating and set a $130.00 price objective on the stock in a report on Friday, January 10th. BTIG Research cut Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Keefe, Bruyette & Woods lowered their price target on Lennar from $210.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Finally, Wedbush reissued a “neutral” rating and issued a $164.00 price objective on shares of Lennar in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $167.50.

Lennar Price Performance

Shares of LEN stock opened at $135.22 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. Lennar has a fifty-two week low of $128.41 and a fifty-two week high of $193.80. The firm has a market capitalization of $36.68 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 1.33 and a beta of 1.66. The stock’s 50-day simple moving average is $146.97 and its 200-day simple moving average is $166.46.

Lennar (NYSE:LEN) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business’s revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.82 earnings per share. As a group, equities analysts forecast that Lennar will post 12.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new stake in Lennar during the fourth quarter worth approximately $4,015,000. Legacy Capital Wealth Partners LLC boosted its stake in Lennar by 49.1% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 2,325 shares of the construction company’s stock valued at $317,000 after acquiring an additional 766 shares in the last quarter. Myriad Asset Management US LP purchased a new position in shares of Lennar during the fourth quarter worth about $2,187,000. ABC Arbitrage SA acquired a new stake in shares of Lennar during the fourth quarter worth about $3,701,000. Finally, Sovran Advisors LLC acquired a new stake in shares of Lennar in the 4th quarter valued at about $409,000. 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.