Lennar (NYSE:LEN) Coverage Initiated at Truist Financial

Equities research analysts at Truist Financial assumed coverage on shares of Lennar (NYSE:LEN) in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage set a “hold” rating and a $110.00 price target on the construction company’s stock. Truist Financial’s target price indicates a potential upside of 5.57% from the stock’s previous close.

Several other brokerages have also recently issued reports on LEN. Argus raised shares of Lennar to a “strong-buy” rating in a report on Friday, January 16th. Citigroup decreased their price objective on shares of Lennar from $133.00 to $113.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. UBS Group downgraded Lennar from a “buy” rating to a “neutral” rating and cut their target price for the company from $137.00 to $122.00 in a research note on Tuesday, January 6th. Barclays decreased their price target on Lennar from $98.00 to $88.00 and set an “underweight” rating for the company in a research note on Thursday, December 18th. Finally, BTIG Research set a $90.00 price objective on Lennar in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and eight have given a Sell rating to the company’s stock. According to data from MarketBeat, Lennar has a consensus rating of “Reduce” and a consensus price target of $106.64.

Lennar Stock Down 2.2%

Shares of NYSE:LEN opened at $104.20 on Wednesday. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $113.28 and a two-hundred day simple moving average of $121.19. Lennar has a 12-month low of $98.42 and a 12-month high of $144.24. The stock has a market capitalization of $25.74 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.55 and a beta of 1.43.

Lennar (NYSE:LEN) last issued its quarterly earnings results 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). The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. Lennar had a net margin of 6.08% and a return on equity of 9.27%. Lennar’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.03 earnings per share. On average, research analysts anticipate that Lennar will post 12.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Guerra Advisors Inc purchased a new stake in shares of Lennar during the 3rd quarter valued at about $25,000. Redmont Wealth Advisors LLC purchased a new stake in Lennar during the third quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp bought a new position in Lennar in the third quarter worth approximately $25,000. DV Equities LLC purchased a new position in shares of Lennar during the 4th quarter worth $31,000. Finally, High Point Wealth Management LLC purchased a new position in shares of Lennar during the 4th quarter worth $31,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.