Lennar (NYSE:LEN) Downgraded by Zelman & Associates to “Hold”

Lennar (NYSE:LEN) was downgraded by analysts at Zelman & Associates from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday, MarketBeat Ratings reports.

LEN has been the subject of several other research reports. Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. The Goldman Sachs Group cut their price target on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Keefe, Bruyette & Woods decreased their price target 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. UBS Group dropped their price objective on shares of Lennar from $164.00 to $146.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Barclays reduced their target price on Lennar from $110.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Sixteen equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lennar currently has a consensus rating of “Hold” and a consensus price target of $141.60.

Lennar Stock Performance

LEN stock opened at $103.37 on Wednesday. The business has a 50 day moving average of $107.79 and a 200-day moving average of $122.57. The firm has a market cap of $27.27 billion, a PE ratio of 8.55, a P/E/G ratio of 2.85 and a beta of 1.33. Lennar has a 12-month low of $98.42 and a 12-month high of $187.61. The company has a quick ratio of 0.68, a current ratio of 3.65 and a debt-to-equity ratio of 0.12.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.04). The company had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%. Lennar’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the firm posted $3.45 earnings per share. As a group, sell-side analysts expect that Lennar will post 12.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC raised its holdings in shares of Lennar by 27.9% in the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock valued at $236,000 after buying an additional 377 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Lennar by 1.3% in the 4th quarter. Sanctuary Advisors LLC now owns 43,609 shares of the construction company’s stock valued at $5,898,000 after purchasing an additional 560 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Lennar by 3.5% in the 4th quarter. CIBC Asset Management Inc now owns 37,007 shares of the construction company’s stock valued at $5,047,000 after acquiring an additional 1,263 shares during the period. Kestra Investment Management LLC purchased a new position in Lennar during the 4th quarter worth $49,000. Finally, Lyell Wealth Management LP increased its stake in Lennar by 5.8% in the fourth quarter. Lyell Wealth Management LP now owns 83,161 shares of the construction company’s stock valued at $11,341,000 after purchasing an additional 4,538 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

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.