Lennar (NYSE:LEN) Stock Rating Lowered by Wall Street Zen

Lennar (NYSE:LEN) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other research firms have also recently commented on LEN. Bank of America cut their price target on Lennar from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 18th. UBS Group cut their target price on Lennar from $164.00 to $146.00 and set a “buy” rating on the stock in a research report on Wednesday, June 18th. Zelman & Associates downgraded shares of Lennar from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 18th. The Goldman Sachs Group cut their price target on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. Finally, Royal Bank Of Canada reduced their price objective on shares of Lennar from $122.00 to $98.00 and set a “sector perform” rating on the stock in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lennar presently has an average rating of “Hold” and an average price target of $132.50.

Lennar Trading Up 2.9%

LEN opened at $106.36 on Friday. The firm’s 50 day moving average is $107.78 and its 200-day moving average is $120.99. Lennar has a 52-week low of $98.42 and a 52-week high of $187.61. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $28.06 billion, a P/E ratio of 8.80, a P/E/G ratio of 4.12 and a beta of 1.34.

Lennar (NYSE:LEN) last released its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.04). The firm had revenue of $8.38 billion for 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%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the firm earned $3.45 EPS. Analysts expect that Lennar will post 12.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Lennar

Several institutional investors have recently made changes to their positions in LEN. Inspire Investing LLC lifted its holdings in shares of Lennar by 44.6% in the 1st quarter. Inspire Investing LLC now owns 2,732 shares of the construction company’s stock worth $314,000 after purchasing an additional 843 shares during the last quarter. Ellsworth Advisors LLC lifted its stake in Lennar by 1.1% in the first quarter. Ellsworth Advisors LLC now owns 16,638 shares of the construction company’s stock valued at $1,910,000 after buying an additional 179 shares during the last quarter. Advisors Capital Management LLC boosted its holdings in shares of Lennar by 1.2% during the first quarter. Advisors Capital Management LLC now owns 47,783 shares of the construction company’s stock valued at $5,485,000 after acquiring an additional 555 shares during the period. Intech Investment Management LLC grew its position in shares of Lennar by 29.8% during the first quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock worth $1,589,000 after acquiring an additional 3,177 shares during the last quarter. Finally, Glenview Trust co increased its holdings in shares of Lennar by 12.3% in the 1st quarter. Glenview Trust co now owns 15,742 shares of the construction company’s stock worth $1,807,000 after acquiring an additional 1,726 shares during the period. 81.10% of the stock is owned by institutional investors.

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.