Lennar (NYSE:LEN) Stock Rating Upgraded by Wall Street Zen

Lennar (NYSE:LEN) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

LEN has been the subject of several other reports. JPMorgan Chase & Co. reduced their target price on Lennar from $97.00 to $92.00 and set a “neutral” rating for the company in a research note on Monday, September 22nd. Wells Fargo & Company decreased their price objective on shares of Lennar from $135.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, October 10th. Zacks Research cut shares of Lennar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 7th. Bank of America lowered their price target on shares of Lennar from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lennar in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $121.75.

Lennar Stock Performance

Shares of LEN opened at $121.27 on Friday. The firm’s 50 day moving average price is $127.66 and its two-hundred day moving average price is $118.83. 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 firm has a market cap of $30.93 billion, a P/E ratio of 11.98, a PEG ratio of 5.78 and a beta of 1.33. Lennar has a twelve month low of $98.42 and a twelve month high of $180.12.

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

Hedge Funds Weigh In On Lennar

Hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in shares of Lennar by 45.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock worth $1,020,866,000 after purchasing an additional 2,777,567 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Lennar in the 2nd quarter worth $424,950,000. Viking Global Investors LP increased its stake in Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after acquiring an additional 1,172,068 shares during the last quarter. Brave Warrior Advisors LLC lifted its position in Lennar by 23.4% in the 1st quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock worth $251,323,000 after buying an additional 415,218 shares during the last quarter. Finally, Eminence Capital LP raised its position in Lennar by 130.8% in the 1st quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock worth $181,523,000 after purchasing an additional 896,264 shares during the period. Institutional investors own 81.10% of the company’s stock.

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.