Lennar (NYSE:LEN) Cut to "Market Perform" at Keefe, Bruyette & Woods

Lennar (NYSE:LEN - Get Free Report) was downgraded by equities researchers at Keefe, Bruyette & Woods from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. They presently have a $141.00 price target on the construction company's stock, down from their previous price target of $152.00. Keefe, Bruyette & Woods' target price would suggest a potential upside of 12.63% from the stock's current price.

Several other brokerages also recently weighed in on LEN. Seaport Res Ptn upgraded Lennar from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. BTIG Research downgraded shares of Lennar from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Royal Bank of Canada cut their target price on shares of Lennar from $130.00 to $125.00 and set a "sector perform" rating for the company in a research note on Thursday, February 6th. Citigroup decreased their price target on shares of Lennar from $196.00 to $150.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Lennar from $190.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lennar currently has an average rating of "Hold" and an average target price of $163.19.

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Lennar Price Performance

Shares of Lennar stock opened at $125.19 on Tuesday. Lennar has a 12-month low of $116.67 and a 12-month high of $187.61. The stock has a market capitalization of $33.24 billion, a P/E ratio of 8.73, a PEG ratio of 1.24 and a beta of 1.69. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average price of $128.89 and a two-hundred day moving average price of $157.12.

Lennar (NYSE:LEN - Get Free Report) last posted its earnings results 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). Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the previous year, the business posted $4.82 earnings per share. The business's quarterly revenue was down 9.3% compared to the same quarter last year. Equities analysts expect that Lennar will post 12.48 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Castlekeep Investment Advisors LLC bought a new position in Lennar in the fourth quarter valued at approximately $218,533,000. Holocene Advisors LP bought a new stake in Lennar in the 3rd quarter valued at $115,229,000. Pacer Advisors Inc. boosted its stake in Lennar by 22.0% in the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company's stock worth $446,110,000 after purchasing an additional 589,553 shares during the period. Wellington Management Group LLP increased its holdings in Lennar by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company's stock worth $441,769,000 after purchasing an additional 515,378 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Lennar by 21.4% in the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company's stock valued at $308,696,000 after purchasing an additional 397,492 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

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.

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