Wells Fargo & Company Has Lowered Expectations for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its target price reduced by investment analysts at Wells Fargo & Company from $120.00 to $110.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 0.14% from the company’s previous close.

A number of other equities research analysts also recently issued reports on LEN. Seaport Res Ptn upgraded Lennar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Barclays cut their price target on shares of Lennar from $121.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday, March 24th. UBS Group decreased their price objective on shares of Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Wolfe Research cut Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $150.07.

Lennar Price Performance

Shares of NYSE LEN traded up $6.89 during midday trading on Wednesday, reaching $109.85. The stock had a trading volume of 3,141,787 shares, compared to its average volume of 2,547,783. The company has a market capitalization of $29.17 billion, a price-to-earnings ratio of 7.63, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. Lennar has a 12-month low of $98.69 and a 12-month high of $187.61. The stock has a 50-day moving average of $119.92 and a 200-day moving average of $146.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter last year, the business posted $2.57 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Lennar will post 12.48 EPS for the current fiscal year.

Institutional Trading of Lennar

A number of hedge funds have recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. lifted its position in shares of Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after buying an additional 75 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of Lennar during the 4th quarter worth about $25,000. Hurley Capital LLC purchased a new position in Lennar in the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. acquired a new stake in Lennar in the 4th quarter worth about $28,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Lennar during the fourth quarter worth $30,000. 81.10% of the stock is owned by hedge funds and other 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.