Bank of America Issues Pessimistic Forecast for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN - Get Free Report) had its price target dropped by research analysts at Bank of America from $110.00 to $105.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the construction company's stock. Bank of America's price target points to a potential downside of 0.36% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Wedbush reaffirmed a "neutral" rating and issued a $158.00 price target on shares of Lennar in a research report on Monday, March 17th. UBS Group dropped their target price on Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a report on Wednesday. Wells Fargo & Company decreased their price target on Lennar from $120.00 to $110.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Zelman & Associates restated a "neutral" rating on shares of Lennar in a research note on Wednesday. Finally, The Goldman Sachs Group lowered their target price on shares of Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. Sixteen equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Lennar presently has a consensus rating of "Hold" and a consensus price target of $144.60.

Lennar Stock Up 0.7%

Lennar stock traded up $0.77 during mid-day trading on Wednesday, reaching $105.38. The stock had a trading volume of 649,054 shares, compared to its average volume of 3,118,964. The firm has a market capitalization of $27.80 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 2.96 and a beta of 1.34. Lennar has a fifty-two week low of $98.42 and a fifty-two week high of $193.80. The stock's 50-day simple moving average is $107.89 and its 200-day simple moving average is $122.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.68 and a current ratio of 3.42.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a net margin of 9.20% and a return on equity of 12.32%. The business had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. During the same period in the previous year, the business posted $3.45 EPS. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. On average, sell-side analysts forecast that Lennar will post 12.48 EPS for the current fiscal year.

Institutional Trading of Lennar

A number of large investors have recently bought and sold shares of LEN. The Manufacturers Life Insurance Company grew 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 acquiring an additional 2,777,567 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in Lennar in the 4th quarter valued at about $218,533,000. Eminence Capital LP lifted its holdings in Lennar by 130.8% during the first quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company's stock valued at $181,523,000 after purchasing an additional 896,264 shares during the last quarter. Wellington Management Group LLP boosted its position in Lennar by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company's stock worth $441,769,000 after purchasing an additional 515,378 shares during the period. Finally, Brave Warrior Advisors LLC increased its stake in shares of Lennar by 23.4% in the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company's stock worth $251,323,000 after purchasing an additional 415,218 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.