Lennar (NYSE:LEN) Given Underperform Rating at Bank of America

Lennar (NYSE:LEN)‘s stock had its “underperform” rating reaffirmed by equities research analysts at Bank of America in a research note issued on Thursday,Benzinga reports. They currently have a $95.00 price objective on the construction company’s stock, down from their prior price objective of $125.00. Bank of America‘s target price indicates a potential downside of 15.47% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $115.00 price objective (down previously from $118.00) on shares of Lennar in a research report on Thursday, December 4th. Raymond James Financial cut Lennar from a “market perform” rating to an “underperform” rating in a report on Monday, September 22nd. Zacks Research raised Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 4th. Citigroup reiterated an “outperform” rating on shares of Lennar in a research note on Monday, September 22nd. Finally, Wells Fargo & Company dropped their price target on Lennar from $135.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat.com, Lennar currently has a consensus rating of “Reduce” and a consensus price target of $116.15.

Lennar Stock Performance

Shares of NYSE LEN opened at $112.39 on Thursday. 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 has a 50 day moving average price of $123.12 and a 200 day moving average price of $121.60. The stock has a market capitalization of $28.66 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 4.92 and a beta of 1.38. Lennar has a 52 week low of $98.42 and a 52 week high of $153.00.

Lennar (NYSE:LEN) last released its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.27). The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.17 billion. Lennar had a net margin of 6.08% and a return on equity of 9.21%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.03 EPS. Analysts predict that Lennar will post 12.48 earnings per share for the current fiscal year.

Institutional Trading of Lennar

A number of hedge funds have recently bought and sold shares of LEN. Guerra Advisors Inc purchased a new stake in Lennar in the 3rd quarter valued at about $25,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Lennar in the third quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new position in Lennar during the third quarter worth approximately $26,000. FNY Investment Advisers LLC acquired a new position in shares of Lennar in the 2nd quarter valued at $33,000. Finally, Rexford Capital Inc. purchased a new stake in shares of Lennar during the 2nd quarter valued at $36,000. Institutional investors and hedge funds 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.