Wells Fargo & Company Cuts Lennar (NYSE:LEN) Price Target to $125.00

Key Points

• Wells Fargo & Company has lowered its price target for Lennar (NYSE:LEN) from $135.00 to $125.00, maintaining an "equal weight" rating. This target suggests a potential upside of 5.17% from Lennar's previous closing price.
• Following their latest earnings report, Lennar reported an EPS of $2.29, surpassing estimates, but also a revenue decline of 6.4% year-over-year to $8.81 billion.
• Analysts' opinions on Lennar vary widely, with current consensus ratings showing one Strong Buy, three Buys, thirteen Holds, and two Sells, with an average target price of $121.75.

Lennar (NYSE:LEN - Get Free Report) had its target price decreased by analysts at Wells Fargo & Company from $135.00 to $125.00 in a research note issued on Friday,MarketScreener reports. The brokerage presently has an "equal weight" rating on the construction company's stock. Wells Fargo & Company's price objective suggests a potential upside of 5.17% from the company's previous close.

Several other analysts also recently weighed in on the stock. Wedbush reaffirmed a "neutral" rating and issued a $130.00 target price on shares of Lennar in a report on Monday, September 22nd. UBS Group increased their target price on shares of Lennar from $146.00 to $161.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Wall Street Zen lowered Lennar from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. JMP Securities raised their price objective on Lennar from $130.00 to $140.00 and gave the company a "market outperform" rating in a research note on Monday, September 22nd. Finally, Raymond James Financial downgraded Lennar from a "market perform" rating to an "underperform" rating in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Lennar currently has a consensus rating of "Hold" and an average target price of $121.75.

Lennar Stock Performance

Shares of Lennar stock opened at $118.85 on Friday. The firm's fifty day simple moving average is $129.36 and its 200-day simple moving average is $116.47. Lennar has a 12 month low of $98.42 and a 12 month high of $189.65. The stock has a market capitalization of $30.31 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 5.32 and a beta of 1.37. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68.

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

Hedge Funds Weigh In On Lennar

Hedge funds have recently bought and sold shares of the company. Fluent Financial LLC acquired a new position in shares of Lennar in the 3rd quarter worth approximately $3,236,000. Quotient Wealth Partners LLC bought a new stake in shares of Lennar in the 3rd quarter worth approximately $205,000. Baker Tilly Wealth Management LLC acquired a new stake in Lennar in the third quarter worth $201,000. Kwmg LLC boosted its holdings in shares of Lennar by 6.2% during the third quarter. Kwmg LLC now owns 44,297 shares of the construction company's stock valued at $5,583,000 after acquiring an additional 2,603 shares during the period. Finally, Wedmont Private Capital grew its position in shares of Lennar by 5.6% during the third quarter. Wedmont Private Capital now owns 4,640 shares of the construction company's stock worth $567,000 after acquiring an additional 245 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.

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