Lennar (NYSE:LEN) Price Target Cut to $120.00 by Analysts at The Goldman Sachs Group

Lennar (NYSE:LEN) had its price target decreased by stock analysts at The Goldman Sachs Group from $141.00 to $120.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 0.47% from the company’s current price.

Several other analysts also recently issued reports on the company. Wedbush reissued a “neutral” rating and set a $158.00 target price on shares of Lennar in a research note on Monday, March 17th. Bank of America dropped their target price on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Citigroup reduced their price target on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. cut their price objective on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Finally, Seaport Res Ptn upgraded Lennar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Fifteen analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $151.07.

Lennar Stock Performance

Shares of LEN stock traded up $1.88 during mid-day trading on Tuesday, reaching $119.44. 1,066,684 shares of the company’s stock traded hands, compared to its average volume of 3,380,769. 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 firm has a market capitalization of $31.71 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. Lennar has a 12 month low of $111.26 and a 12 month high of $193.80. The firm has a 50 day moving average price of $125.81 and a two-hundred day moving average price of $152.70.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.44. The business had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.57 earnings per share. On average, research analysts forecast that Lennar will post 12.48 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Great Valley Advisor Group Inc. acquired a new position in shares of Lennar during the third quarter worth $235,000. Kingsview Wealth Management LLC increased its stake in Lennar by 275.4% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,113 shares of the construction company’s stock valued at $959,000 after purchasing an additional 3,751 shares in the last quarter. Swedbank AB lifted its stake in shares of Lennar by 5.4% during the third quarter. Swedbank AB now owns 164,709 shares of the construction company’s stock worth $30,880,000 after buying an additional 8,405 shares during the period. Centaurus Financial Inc. grew its holdings in shares of Lennar by 2.5% during the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock valued at $551,000 after buying an additional 71 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its stake in Lennar by 36.7% in the 3rd quarter. Summit Trail Advisors LLC now owns 2,990 shares of the construction company’s stock worth $561,000 after acquiring an additional 803 shares during the last quarter. 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.