JPMorgan Chase & Co. Issues Pessimistic Forecast for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $80.00 to $77.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 14.19% from the company’s current price.

LEN has been the subject of a number of other reports. Wells Fargo & Company decreased their target price on Lennar from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday. BTIG Research set a $67.00 target price on Lennar in a research report on Monday. Citigroup lowered their target price on Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 17th. Zacks Research raised Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Finally, Evercore upped their target price on Lennar from $82.00 to $87.00 and gave the stock an “underperform” rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and ten have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $95.19.

Lennar Price Performance

Lennar stock opened at $89.73 on Tuesday. The stock’s 50 day moving average is $89.44 and its 200 day moving average is $102.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91. The firm has a market cap of $22.16 billion, a P/E ratio of 14.04, a P/E/G ratio of 2.83 and a beta of 1.39. Lennar has a one year low of $81.18 and a one year high of $144.24.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.07. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The firm had revenue of $7.94 billion during the quarter, compared to analyst estimates of $8.08 billion. During the same period last year, the company posted $1.81 EPS. The business’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, research analysts expect that Lennar will post 5.85 EPS for the current year.

Hedge Funds Weigh In On Lennar

Several institutional investors and hedge funds have recently bought and sold shares of LEN. Brighton Jones LLC raised its position in shares of Lennar by 27.9% in the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after buying an additional 377 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Lennar by 29.8% in the first quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock worth $1,589,000 after buying an additional 3,177 shares in the last quarter. Jump Financial LLC raised its position in shares of Lennar by 15.0% in the second quarter. Jump Financial LLC now owns 25,622 shares of the construction company’s stock worth $2,834,000 after buying an additional 3,345 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of Lennar in the second quarter worth $47,000. Finally, Daiwa Securities Group Inc. raised its position in shares of Lennar by 4.6% in the second quarter. Daiwa Securities Group Inc. now owns 34,958 shares of the construction company’s stock worth $3,867,000 after buying an additional 1,544 shares in the last quarter. 81.10% of the stock is 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.