Bank of America Has Lowered Expectations for Lennar (NYSE:LEN) Stock Price

Key Points

• Bank of America has reduced its price target for Lennar's stock from $133.00 to $125.00, maintaining a "neutral" rating, which implies a potential upside of 4.97% from its current price.
• Despite Bank of America's downgrade, other analysts like JMP Securities and Wells Fargo have increased their price targets for Lennar, with JMP now at $140.00 and Wells Fargo at $135.00.
• Lennar reported earnings of $2.29 per share in its latest quarter, surpassing estimates, but its revenue decreased by 6.4% compared to the previous year.

Lennar (NYSE:LEN - Get Free Report) had its price target cut by stock analysts at Bank of America from $133.00 to $125.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the construction company's stock. Bank of America's price objective suggests a potential upside of 4.97% from the stock's current price.

A number of other equities research analysts also recently commented on the company. JMP Securities lifted their price objective on Lennar from $130.00 to $140.00 and gave the company a "market outperform" rating in a research report on Monday, September 22nd. Citigroup reaffirmed an "outperform" rating on shares of Lennar in a research report on Monday, September 22nd. Wells Fargo & Company boosted their price target on Lennar from $110.00 to $135.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 2nd. Wall Street Zen downgraded Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Lennar in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Lennar presently has a consensus rating of "Hold" and an average target price of $122.58.

Lennar Price Performance

LEN stock traded up $1.67 during midday trading on Friday, hitting $119.08. 2,205,696 shares of the stock were exchanged, compared to its average volume of 3,280,942. The stock's 50-day moving average price is $129.30 and its 200-day moving average price is $116.47. The stock has a market cap of $30.84 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 5.38 and a beta of 1.37. Lennar has a fifty-two week low of $98.42 and a fifty-two week high of $189.65. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.15. The company had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.Lennar's revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.90 earnings per share. Research analysts predict that Lennar will post 12.48 earnings per share for the current year.

Institutional Investors Weigh In On Lennar

Large investors have recently modified their holdings of the stock. Opal Wealth Advisors LLC purchased a new stake in shares of Lennar during the 1st quarter worth approximately $30,000. NBC Securities Inc. bought a new position in Lennar in the 1st quarter worth approximately $33,000. FNY Investment Advisers LLC bought a new position in Lennar in the 2nd quarter worth approximately $33,000. Rexford Capital Inc. bought a new position in Lennar in the 2nd quarter worth approximately $36,000. Finally, Disciplina Capital Management LLC boosted its holdings in Lennar by 179.8% in the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company's stock worth $38,000 after buying an additional 214 shares during the period. 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.

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