Lennar (NYSE:LEN) Rating Lowered to Market Perform at Raymond James

Raymond James downgraded shares of Lennar (NYSE:LEN) from an outperform rating to a market perform rating in a report released on Tuesday, Benzinga reports. The firm currently has $55.00 target price on the construction company’s stock. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also recently issued reports on LEN. Zacks Investment Research cut Lennar from a hold rating to a sell rating and set a $53.00 target price for the company. in a research report on Thursday, May 30th. Wedbush raised Lennar from a neutral rating to an outperform rating and upped their target price for the stock from $50.00 to $62.00 in a research report on Thursday, June 13th. Barclays set a $54.00 target price on Lennar and gave the stock a buy rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. assumed coverage on Lennar in a research report on Monday, April 8th. They set a focus list rating for the company. Finally, ValuEngine raised Lennar from a sell rating to a hold rating in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Lennar currently has a consensus rating of Buy and a consensus price target of $57.18.

Shares of Lennar stock opened at $51.35 on Tuesday. The company has a market cap of $16.75 billion, a price-to-earnings ratio of 8.09, a P/E/G ratio of 0.69 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 14.77 and a quick ratio of 0.84. Lennar has a 12-month low of $37.29 and a 12-month high of $55.77.

Lennar (NYSE:LEN) last announced its earnings results on Wednesday, March 27th. The construction company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $4.10 billion. Lennar had a return on equity of 13.04% and a net margin of 8.39%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 EPS. As a group, equities analysts predict that Lennar will post 5.42 EPS for the current fiscal year.

In other news, President Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $48.94, for a total value of $978,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.43% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cleararc Capital Inc. acquired a new position in Lennar during the first quarter worth $235,000. Cerebellum GP LLC raised its stake in Lennar by 4.4% during the first quarter. Cerebellum GP LLC now owns 6,572 shares of the construction company’s stock worth $323,000 after acquiring an additional 278 shares in the last quarter. Clearbridge Investments LLC raised its stake in Lennar by 15.5% during the first quarter. Clearbridge Investments LLC now owns 669,606 shares of the construction company’s stock worth $32,871,000 after acquiring an additional 90,079 shares in the last quarter. Belpointe Asset Management LLC raised its stake in Lennar by 6.9% during the first quarter. Belpointe Asset Management LLC now owns 6,277 shares of the construction company’s stock worth $308,000 after acquiring an additional 406 shares in the last quarter. Finally, Long Pond Capital LP raised its stake in Lennar by 21.1% during the first quarter. Long Pond Capital LP now owns 2,327,633 shares of the construction company’s stock worth $114,264,000 after acquiring an additional 405,962 shares in the last quarter. 85.71% of the stock is owned by institutional investors.

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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.

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Analyst Recommendations for Lennar (NYSE:LEN)

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