Lennar (NYSE:LEN) Lowered to “Sell” Rating by Wall Street Zen

Lennar (NYSE:LEN) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

LEN has been the topic of several other research reports. Zacks Research raised shares of Lennar from a “strong sell” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group lifted their price objective on shares of Lennar from $122.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $115.00 price target (down previously from $118.00) on shares of Lennar in a research report on Thursday. Bank of America cut their price target on Lennar from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. Finally, Evercore ISI reduced their price target on shares of Lennar from $118.00 to $114.00 and set an “in-line” rating for the company in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $121.54.

Lennar Trading Down 2.2%

Shares of Lennar stock opened at $124.01 on Monday. The company has a market capitalization of $31.63 billion, a P/E ratio of 12.25, a PEG ratio of 5.25 and a beta of 1.38. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. The company’s fifty day moving average is $124.39 and its two-hundred day moving average is $121.01. Lennar has a 1 year low of $98.42 and a 1 year high of $169.00.

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

Hedge Funds Weigh In On Lennar

A number of hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Lennar by 27.9% in the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after buying an additional 377 shares during the period. Atria Wealth Solutions Inc. raised its stake in Lennar by 6.1% during the 1st quarter. Atria Wealth Solutions Inc. now owns 3,906 shares of the construction company’s stock valued at $448,000 after purchasing an additional 225 shares during the last quarter. Townsquare Capital LLC boosted its holdings in Lennar by 11.3% in the 1st quarter. Townsquare Capital LLC now owns 18,118 shares of the construction company’s stock valued at $2,080,000 after purchasing an additional 1,842 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Lennar in the 1st quarter worth $66,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Lennar during the 1st quarter worth about $3,545,000. 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.