Wall Street Zen Downgrades Lennar (NYSE:LEN) to Sell

Lennar (NYSE:LEN) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

LEN has been the subject of several other research reports. Wedbush restated a “neutral” rating and set a $130.00 price target on shares of Lennar in a report on Monday, September 22nd. Citigroup reiterated an “outperform” rating on shares of Lennar in a research report on Monday, September 22nd. Bank of America dropped their target price on shares of Lennar from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lennar in a report on Wednesday, October 8th. Finally, UBS Group boosted their price objective on Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $121.75.

Lennar Price Performance

LEN stock opened at $123.04 on Friday. The company’s 50-day moving average price is $124.17 and its two-hundred day moving average price is $119.48. Lennar has a 12 month low of $98.42 and a 12 month high of $180.12. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. The firm has a market cap of $31.38 billion, a P/E ratio of 12.16, a P/E/G ratio of 5.78 and a beta of 1.33.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 18th. The construction company reported $2.00 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.14). Lennar had a net margin of 7.72% and a return on equity of 11.09%. The business had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. During the same period last year, the business earned $3.90 earnings per share. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, analysts anticipate that Lennar will post 12.48 earnings per share for the current fiscal year.

Institutional Trading of Lennar

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Texas Capital Bank Wealth Management Services Inc grew its holdings in shares of Lennar by 77.7% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,649 shares of the construction company’s stock worth $419,000 after purchasing an additional 1,596 shares during the last quarter. denkapparat Operations GmbH bought a new position in Lennar in the second quarter worth approximately $408,000. Steward Partners Investment Advisory LLC raised its position in shares of Lennar by 199.9% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 31,187 shares of the construction company’s stock worth $3,580,000 after acquiring an additional 20,787 shares in the last quarter. Allstate Corp lifted its position in shares of Lennar by 62.4% during the first quarter. Allstate Corp now owns 11,711 shares of the construction company’s stock valued at $1,344,000 after buying an additional 4,500 shares during the last quarter. Finally, Circle Wealth Management LLC purchased a new stake in Lennar during the first quarter valued at approximately $462,000. Hedge funds and other institutional investors 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.