Keefe, Bruyette & Woods Downgrades Lennar (NYSE:LEN) to Underperform

Lennar (NYSE:LEN) was downgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “underperform” rating in a research report issued on Tuesday, MarketBeat reports. They presently have a $86.00 price target on the construction company’s stock. Keefe, Bruyette & Woods’ price objective points to a potential downside of 5.44% from the stock’s previous close.

A number of other brokerages have also recently issued reports on LEN. Argus decreased their target price on Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Barclays decreased their price objective on shares of Lennar from $85.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday, April 8th. Citigroup dropped their price objective on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. UBS Group cut their target price on shares of Lennar from $122.00 to $107.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Finally, Truist Financial decreased 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. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $98.00.

Lennar Stock Up 0.5%

Shares of NYSE LEN opened at $90.95 on Tuesday. The stock has a market capitalization of $22.46 billion, a PE ratio of 13.07, a P/E/G ratio of 2.00 and a beta of 1.39. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average of $88.97 and a 200-day moving average of $104.00. Lennar has a 52-week low of $81.18 and a 52-week high of $144.24.

Lennar (NYSE:LEN) last issued its 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). The firm had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. Lennar’s revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.14 EPS. On average, analysts anticipate that Lennar will post 5.87 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LEN. KERR FINANCIAL PLANNING Corp purchased a new stake in Lennar during the 3rd quarter worth approximately $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Lennar in the third quarter worth $26,000. Phillip James Consulting Co. bought a new stake in shares of Lennar in the first quarter worth $30,000. High Point Wealth Management LLC acquired a new stake in Lennar in the fourth quarter valued at $31,000. Finally, DV Equities LLC acquired a new stake in Lennar in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.