BTIG Research Initiates Coverage on Lennar (NYSE:LEN)

Stock analysts at BTIG Research began coverage on shares of Lennar (NYSE:LEN) in a note issued to investors on Tuesday. The brokerage set a “sell” rating and a $96.00 price target on the construction company’s stock. BTIG Research’s target price points to a potential downside of 27.91% from the company’s current price.

Other analysts also recently issued research reports about the company. Bank of America reduced their price objective on Lennar from $133.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday, October 10th. Raymond James Financial downgraded shares of Lennar from a “market perform” rating to an “underperform” rating in a research note on Monday, September 22nd. Wedbush restated a “neutral” rating and issued a $130.00 price objective on shares of Lennar in a research note on Monday, September 22nd. Zacks Research lowered shares of Lennar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. Finally, UBS Group increased their price target on shares of Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $121.77.

Lennar Price Performance

NYSE:LEN opened at $133.17 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. Lennar has a one year low of $98.42 and a one year high of $171.50. The company has a fifty day moving average price of $124.37 and a 200 day moving average price of $120.69. The stock has a market cap of $33.96 billion, a P/E ratio of 13.16, a PEG ratio of 5.55 and a beta of 1.38.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 18th. The construction company reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.14). The company had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.90 earnings per share. Analysts anticipate that Lennar will post 12.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tevis Investment Management increased its position in Lennar by 5.7% in the 3rd quarter. Tevis Investment Management now owns 9,169 shares of the construction company’s stock valued at $1,156,000 after acquiring an additional 492 shares in the last quarter. Groupama Asset Managment bought a new stake in shares of Lennar during the third quarter valued at approximately $304,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Lennar during the third quarter valued at approximately $25,000. Prana Capital Management LP increased its holdings in shares of Lennar by 17.7% in the third quarter. Prana Capital Management LP now owns 393,027 shares of the construction company’s stock valued at $49,537,000 after purchasing an additional 59,236 shares in the last quarter. Finally, Center For Asset Management LLC raised its position in Lennar by 5.7% in the 3rd quarter. Center For Asset Management LLC now owns 3,477 shares of the construction company’s stock worth $438,000 after purchasing an additional 188 shares during the last quarter. Institutional investors and hedge funds 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.