The Goldman Sachs Group Has Lowered Expectations for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its target price dropped by research analysts at The Goldman Sachs Group from $125.00 to $118.00 in a research report issued on Thursday,MarketScreener reports. The firm presently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 16.34% from the stock’s previous close.

Several other equities analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Lennar from a “hold” rating to a “sell” rating in a report on Monday, December 8th. Evercore downgraded shares of Lennar from an “in-line” rating to an “underperform” rating and decreased their price objective for the company from $114.00 to $92.00 in a research report on Thursday, December 18th. Wells Fargo & Company dropped their target price on shares of Lennar from $110.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday, January 6th. Keefe, Bruyette & Woods cut their price target on Lennar from $125.00 to $115.00 and set a “market perform” rating for the company in a research note on Thursday, December 18th. Finally, Barclays lowered their price objective on Lennar from $98.00 to $88.00 and set an “underweight” rating on the stock in a research report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $106.14.

Lennar Stock Performance

Lennar stock traded down $2.87 during trading on Thursday, reaching $101.43. The company had a trading volume of 2,952,356 shares, compared to its average volume of 2,184,519. The firm has a market capitalization of $25.05 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The firm’s 50-day simple moving average is $113.21 and its 200 day simple moving average is $120.98. Lennar has a 52 week low of $98.42 and a 52 week high of $144.24.

Lennar (NYSE:LEN) last released its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.27). The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. Lennar had a net margin of 6.08% and a return on equity of 9.27%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.03 EPS. Sell-side analysts forecast that Lennar will post 12.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Concurrent Investment Advisors LLC increased its stake in shares of Lennar by 73.9% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 10,702 shares of the construction company’s stock worth $1,349,000 after acquiring an additional 4,548 shares during the last quarter. denkapparat Operations GmbH acquired a new position in shares of Lennar during the 2nd quarter valued at about $408,000. Longfellow Investment Management Co. LLC purchased a new stake in shares of Lennar in the second quarter valued at about $441,000. Swiss National Bank increased its position in Lennar by 4.3% during the second quarter. Swiss National Bank now owns 702,872 shares of the construction company’s stock worth $77,745,000 after purchasing an additional 29,300 shares during the last quarter. Finally, Cibc World Market Inc. raised its stake in Lennar by 993.0% during the third quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock worth $16,321,000 after purchasing an additional 117,640 shares during the period. Hedge funds and other institutional investors 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.