UBS Group Has Lowered Expectations for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its target price cut by equities research analysts at UBS Group from $225.00 to $205.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. UBS Group’s target price would indicate a potential upside of 48.99% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Tuesday. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a research note on Friday. Wedbush reaffirmed a “neutral” rating and set a $164.00 price objective on shares of Lennar in a research note on Thursday. Royal Bank of Canada boosted their target price on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research note on Monday, September 23rd. Finally, JMP Securities raised their price target on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $175.94.

Lennar Price Performance

NYSE:LEN traded down $0.81 during midday trading on Friday, hitting $137.59. The company had a trading volume of 675,185 shares, compared to its average volume of 2,071,504. The company has a market capitalization of $37.32 billion, a PE ratio of 9.11, a P/E/G ratio of 1.31 and a beta of 1.61. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. Lennar has a 52-week low of $135.21 and a 52-week high of $193.80. The stock’s fifty day moving average price is $169.78 and its 200-day moving average price is $169.58.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The firm had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $10.06 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.82 earnings per share. As a group, research analysts expect that Lennar will post 14.11 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the transaction, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On Lennar

Institutional investors and hedge funds have recently made changes to their positions in the business. Oddo BHF Asset Management Sas bought a new position in Lennar during the 3rd quarter valued at approximately $2,543,000. Synovus Financial Corp increased its holdings in shares of Lennar by 1.3% during the third quarter. Synovus Financial Corp now owns 47,348 shares of the construction company’s stock valued at $8,877,000 after acquiring an additional 627 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Lennar in the 3rd quarter worth about $241,000. World Investment Advisors LLC bought a new stake in Lennar during the 3rd quarter valued at about $251,000. Finally, Sanctuary Advisors LLC raised its holdings in Lennar by 9.4% in the third quarter. Sanctuary Advisors LLC now owns 43,049 shares of the construction company’s stock worth $8,071,000 after buying an additional 3,712 shares during the last quarter. 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.