Bank of America Lowers Lennar (NYSE:LEN) Price Target to $84.00

Lennar (NYSE:LEN) had its price objective dropped by stock analysts at Bank of America from $88.00 to $84.00 in a report issued on Thursday,MarketScreener reports. Bank of America‘s target price indicates a potential downside of 7.81% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Zacks Research raised Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Truist Financial lowered their price target on shares of Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. UBS Group cut their price objective on shares of Lennar from $122.00 to $107.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. Seaport Research Partners reissued a “sell” rating and set a $74.00 target price (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. Finally, Barclays dropped their price target on shares of Lennar from $85.00 to $80.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $97.27.

Lennar Stock Performance

NYSE LEN traded up $1.26 during trading hours on Thursday, reaching $91.11. The company’s stock had a trading volume of 118,666 shares, compared to its average volume of 2,912,847. The stock has a market cap of $22.50 billion, a PE ratio of 13.09, a PEG ratio of 2.05 and a beta of 1.39. The business has a 50-day simple moving average of $89.12 and a 200 day simple moving average of $103.65. Lennar has a 52 week low of $81.18 and a 52 week high of $144.24. The company has a current ratio of 4.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). Lennar had a return on equity of 7.80% and a net margin of 5.39%.The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the company posted $2.14 earnings per share. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. Equities research analysts predict that Lennar will post 5.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. KERR FINANCIAL PLANNING Corp bought a new stake in Lennar during the third quarter worth approximately $25,000. Redmont Wealth Advisors LLC bought a new position in Lennar during the 3rd quarter valued at $26,000. Phillip James Consulting Co. acquired a new position in shares of Lennar during the 1st quarter valued at $30,000. High Point Wealth Management LLC bought a new stake in shares of Lennar in the 4th quarter worth $31,000. Finally, DV Equities LLC acquired a new stake in shares of Lennar in the fourth quarter valued at $31,000. 81.10% of the stock is currently owned by institutional investors.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.