Royal Bank of Canada Cuts Lennar (NYSE:LEN) Price Target to $125.00

Lennar (NYSE:LEN) had its price objective dropped by equities research analysts at Royal Bank of Canada from $130.00 to $125.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the construction company’s stock. Royal Bank of Canada’s price objective suggests a potential downside of 1.81% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Wolfe Research downgraded Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their target price on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Bank of America dropped their target price on Lennar from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Wedbush restated a “neutral” rating and issued a $164.00 target price on shares of Lennar in a report on Thursday, December 19th. Finally, Barclays lowered their price target on Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $167.19.

Lennar Stock Down 0.1 %

LEN traded down $0.19 on Thursday, hitting $127.31. The company had a trading volume of 520,623 shares, compared to its average volume of 3,356,970. The stock has a fifty day moving average price of $143.33 and a 200-day moving average price of $165.36. Lennar has a 12-month low of $125.21 and a 12-month high of $193.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. The stock has a market capitalization of $33.80 billion, a price-to-earnings ratio of 8.89, a P/E/G ratio of 1.32 and a beta of 1.67.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $10.06 billion. During the same quarter in the previous year, the firm posted $4.82 EPS. Lennar’s revenue was down 9.3% on a year-over-year basis. Analysts predict that Lennar will post 12.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. grew its stake in shares of Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after purchasing an additional 75 shares during the last quarter. Crews Bank & Trust purchased a new position in shares of Lennar in the 4th quarter valued at approximately $25,000. Oakworth Capital Inc. purchased a new position in shares of Lennar in the 3rd quarter valued at approximately $27,000. SBI Securities Co. Ltd. acquired a new stake in shares of Lennar in the 4th quarter valued at approximately $28,000. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors 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.