Lennar (NYSE:LEN) Price Target Cut to $80.00 by Analysts at JPMorgan Chase & Co.

Lennar (NYSE:LEN) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $115.00 to $80.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 26.74% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods dropped their price target on Lennar from $125.00 to $115.00 and set a “market perform” rating on the stock in a research report on Thursday. Citigroup reaffirmed an “outperform” rating on shares of Lennar in a report on Monday, September 22nd. Wall Street Zen cut shares of Lennar from a “hold” rating to a “sell” rating in a research note on Monday, December 8th. Royal Bank Of Canada cut Lennar from a “sector perform” rating to an “underperform” rating and decreased their price target for the stock from $106.00 to $95.00 in a research note on Wednesday. Finally, Evercore ISI downgraded shares of Lennar from an “in-line” rating to an “underperform” rating and lowered their price objective for the company from $114.00 to $92.00 in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $109.62.

Lennar Stock Down 2.7%

LEN stock traded down $3.03 during mid-day trading on Thursday, reaching $109.20. 3,051,569 shares of the company traded hands, compared to its average volume of 3,939,855. The stock has a market cap of $27.85 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 4.92 and a beta of 1.38. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. Lennar has a fifty-two week low of $98.42 and a fifty-two week high of $144.24. The firm’s 50 day moving average price is $123.12 and its 200 day moving average price is $121.60.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a net margin of 6.08% and a return on equity of 9.21%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter last year, the business posted $4.03 earnings per share. Lennar’s revenue was down 5.8% on a year-over-year basis. As a group, equities research analysts predict that Lennar will post 12.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Brighton Jones LLC lifted its position in Lennar by 27.9% during the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after acquiring an additional 377 shares during the period. Cresset Asset Management LLC raised its position in Lennar by 120.7% during the 1st quarter. Cresset Asset Management LLC now owns 4,554 shares of the construction company’s stock worth $523,000 after buying an additional 2,491 shares during the last quarter. RWA Wealth Partners LLC boosted its holdings in shares of Lennar by 35.3% in the first quarter. RWA Wealth Partners LLC now owns 2,097 shares of the construction company’s stock valued at $241,000 after acquiring an additional 547 shares in the last quarter. Credit Agricole S A lifted its position in Lennar by 6.8% in the first quarter. Credit Agricole S A now owns 67,709 shares of the construction company’s stock valued at $7,772,000 after purchasing an additional 4,307 shares during the period. Finally, Dorsey & Whitney Trust CO LLC increased its position in Lennar by 54.6% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 5,129 shares of the construction company’s stock worth $589,000 after purchasing an additional 1,811 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.