Lennar (NYSE:LEN) Earns "Neutral" Rating from Wedbush

Lennar (NYSE:LEN - Get Free Report)'s stock had its "neutral" rating reissued by stock analysts at Wedbush in a research report issued on Wednesday,Benzinga reports. They currently have a $130.00 price target on the construction company's stock. Wedbush's target price would suggest a potential upside of 23.80% from the company's current price.

Several other research analysts have also recently commented on LEN. Royal Bank Of Canada reduced their price target on Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods dropped their target price on shares of Lennar from $141.00 to $128.00 and set a "market perform" rating on the stock in a report on Tuesday, March 25th. The Goldman Sachs Group reduced their price target on Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. UBS Group cut their price objective on Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company decreased their target price on Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Sixteen equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lennar has a consensus rating of "Hold" and an average price target of $141.60.

Lennar Trading Up 0.4%

Lennar stock traded up $0.40 during midday trading on Wednesday, hitting $105.01. 1,139,909 shares of the stock were exchanged, compared to its average volume of 2,663,195. The company has a fifty day simple moving average of $107.89 and a two-hundred day simple moving average of $122.70. The stock has a market capitalization of $27.70 billion, a PE ratio of 8.69, a P/E/G ratio of 2.96 and a beta of 1.34. Lennar has a 52 week low of $98.42 and a 52 week high of $187.61. The company has a quick ratio of 0.68, a current ratio of 3.42 and a debt-to-equity ratio of 0.10.

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

Institutional Investors Weigh In On Lennar

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Lennar by 27.9% during the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock worth $236,000 after buying an additional 377 shares during the period. Sanctuary Advisors LLC raised its holdings in Lennar by 1.3% during the fourth quarter. Sanctuary Advisors LLC now owns 43,609 shares of the construction company's stock worth $5,898,000 after buying an additional 560 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Lennar by 3.5% during the 4th quarter. CIBC Asset Management Inc now owns 37,007 shares of the construction company's stock valued at $5,047,000 after purchasing an additional 1,263 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Lennar during the fourth quarter worth $49,000. Finally, Lyell Wealth Management LP increased its stake in Lennar by 5.8% in the 4th quarter. Lyell Wealth Management LP now owns 83,161 shares of the construction company's stock valued at $11,341,000 after buying an additional 4,538 shares during the last quarter. 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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