JPMorgan Chase & Co. Cuts Lennar (NYSE:LEN) Price Target to $92.00

Lennar (NYSE:LEN) had its price target reduced by JPMorgan Chase & Co. from $97.00 to $92.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

LEN has been the topic of several other research reports. UBS Group boosted their price objective on Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a report on Monday. Evercore ISI cut their price objective on Lennar from $131.00 to $114.00 and set an “in-line” rating on the stock in a report on Wednesday, June 18th. Bank of America boosted their price objective on Lennar from $115.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, September 18th. Royal Bank Of Canada cut their price objective on Lennar from $122.00 to $98.00 and set a “sector perform” rating on the stock in a report on Wednesday, June 18th. Finally, Zelman & Associates downgraded Lennar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Lennar presently has an average rating of “Hold” and an average target price of $123.75.

Lennar Price Performance

NYSE:LEN opened at $125.77 on Monday. Lennar has a 52 week low of $98.42 and a 52 week high of $189.65. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $32.57 billion, a P/E ratio of 12.43, a P/E/G ratio of 5.52 and a beta of 1.33. The stock’s fifty day moving average is $126.78 and its two-hundred day moving average is $116.01.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The company had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same quarter in the previous year, the business earned $3.90 earnings per share. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. Equities analysts expect that Lennar will post 12.48 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriflex Group Inc. acquired a new position in Lennar during the 4th quarter worth $30,000. Opal Wealth Advisors LLC acquired a new position in shares of Lennar during the 1st quarter worth about $30,000. NBC Securities Inc. acquired a new position in shares of Lennar during the 1st quarter worth about $33,000. FNY Investment Advisers LLC acquired a new position in shares of Lennar during the 2nd quarter worth about $33,000. Finally, Rexford Capital Inc. acquired a new position in shares of Lennar during the 2nd quarter worth about $36,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Company Profile

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.