JPMorgan Chase & Co. Trims Lennar (NYSE:LEN) Target Price to $89.00

Lennar (NYSE:LEN – Get Rating) had its target price lowered by JPMorgan Chase & Co. from $108.00 to $89.00 in a research report issued on Wednesday, The Fly reports. The brokerage presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 15.93% from the company’s previous close.

Several other equities research analysts also recently issued reports on LEN. Raymond James increased their price objective on shares of Lennar from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 21st. Wells Fargo & Company decreased their target price on shares of Lennar from $115.00 to $95.00 and set an “equal weight” rating for the company in a research report on Friday, March 18th. Wedbush reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Lennar in a research report on Wednesday, March 9th. BTIG Research decreased their target price on shares of Lennar from $135.00 to $118.00 and set a “buy” rating for the company in a research report on Friday, March 18th. Finally, Bank of America downgraded shares of Lennar from a “buy” rating to a “neutral” rating and decreased their target price for the company from $125.00 to $113.00 in a research report on Thursday, January 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $110.27.

Shares of LEN stock opened at $76.77 on Wednesday. The firm has a fifty day moving average of $86.12 and a 200-day moving average of $97.94. The company has a quick ratio of 0.78, a current ratio of 9.51 and a debt-to-equity ratio of 0.22. Lennar has a 12-month low of $73.01 and a 12-month high of $117.54. The company has a market capitalization of $22.68 billion, a price-to-earnings ratio of 6.01, a P/E/G ratio of 0.59 and a beta of 1.53.

Lennar (NYSE:LEN – Get Rating) last issued its quarterly earnings data on Wednesday, March 16th. The construction company reported $2.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.60 by $0.10. Lennar had a net margin of 14.04% and a return on equity of 19.79%. The company had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the firm earned $2.04 earnings per share. The firm’s revenue was up 16.5% compared to the same quarter last year. On average, equities analysts expect that Lennar will post 16.43 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in LEN. Kestra Advisory Services LLC grew its position in shares of Lennar by 2.3% in the 3rd quarter. Kestra Advisory Services LLC now owns 6,419 shares of the construction company’s stock valued at $601,000 after acquiring an additional 147 shares during the period. Financial Counselors Inc. acquired a new stake in shares of Lennar during the 3rd quarter worth about $485,000. Westpac Banking Corp lifted its stake in shares of Lennar by 11.5% during the 3rd quarter. Westpac Banking Corp now owns 91,802 shares of the construction company’s stock worth $8,600,000 after buying an additional 9,441 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Lennar by 7.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 162,140 shares of the construction company’s stock worth $15,189,000 after buying an additional 10,794 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its stake in shares of Lennar by 58.1% during the 3rd quarter. WINTON GROUP Ltd now owns 7,107 shares of the construction company’s stock worth $666,000 after buying an additional 2,613 shares during the last quarter. 83.26% of the stock is owned by institutional investors.

Lennar Company Profile (Get Rating)

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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