Lennar (NYSE:LEN) Price Target Cut to $92.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reduced Lennar's price target from $97.00 to $92.00, indicating a potential downside of 27.66% from the current stock price.
• Various analysts have also adjusted their ratings on Lennar, with most suggesting a neutral stance, while the consensus rating remains a Hold.
• Lennar's recent earnings report showed a 6.4% decline in revenue year-over-year, along with $2.29 EPS that exceeded estimates but fell short of revenue expectations.

Lennar (NYSE:LEN - Get Free Report) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $97.00 to $92.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the construction company's stock. JPMorgan Chase & Co.'s price target suggests a potential downside of 24.53% from the stock's current price.

A number of other research analysts have also recently commented on the company. Citigroup boosted their price objective on Lennar from $116.00 to $133.00 and gave the stock a "neutral" rating in a research note on Monday. Royal Bank Of Canada reduced their price objective on Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a research note on Wednesday, June 18th. Bank of America boosted their price objective on Lennar from $115.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday. Zacks Research upgraded Lennar from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Finally, Evercore ISI reduced their price objective on Lennar from $131.00 to $114.00 and set an "in-line" rating on the stock in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $123.25.

Lennar Trading Down 4.3%

Lennar stock traded down $5.43 during midday trading on Monday, reaching $121.90. The stock had a trading volume of 6,039,107 shares, compared to its average volume of 3,870,134. Lennar has a twelve month low of $98.42 and a twelve month high of $189.65. The stock has a market capitalization of $31.57 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 5.40 and a beta of 1.33. 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 stock's 50-day simple moving average is $126.15 and its 200 day simple moving average is $115.89.

Lennar (NYSE:LEN - Get Free Report) last issued its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share 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 firm had revenue of $8.81 billion for the quarter, compared to analysts' expectations of $9.01 billion. During the same quarter last year, the firm earned $3.90 earnings per share. The firm's revenue for the quarter was down 6.4% compared to the same quarter last year. Analysts expect that Lennar will post 12.48 EPS for the current year.

Institutional Trading of Lennar

Hedge funds and other institutional investors have recently modified their holdings of the business. Caldwell Trust Co bought a new stake in Lennar in the second quarter valued at about $218,000. Valeo Financial Advisors LLC boosted its position in shares of Lennar by 9.4% during the second quarter. Valeo Financial Advisors LLC now owns 9,668 shares of the construction company's stock worth $1,069,000 after buying an additional 827 shares during the period. Centaurus Financial Inc. boosted its position in shares of Lennar by 27.2% during the second quarter. Centaurus Financial Inc. now owns 4,534 shares of the construction company's stock worth $502,000 after buying an additional 970 shares during the period. Cypress Capital Advisors LLC boosted its position in shares of Lennar by 6.4% during the second quarter. Cypress Capital Advisors LLC now owns 4,203 shares of the construction company's stock worth $465,000 after buying an additional 252 shares during the period. Finally, Orion Porfolio Solutions LLC boosted its position in shares of Lennar by 6.8% during the second quarter. Orion Porfolio Solutions LLC now owns 22,521 shares of the construction company's stock worth $2,491,000 after buying an additional 1,433 shares during the period. 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.