Lennar Corporation [LEN] stock Downgrade by BofA Securities analyst, price target now $82

Lennar Corporation [NYSE: LEN] traded at a high on 09/01/22, posting a 0.05 gain after which it closed the day’ session at $77.49. The company report on July 26, 2022 that LMC Announces Start of Leasing for Residences Kierland.

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Mid-rise community Features 290 Apartment Homes and Townhomes in Scottsdale  .

LMC, a wholly owned subsidiary of Lennar Corporation [NYSE: LEN] and a leader in apartment development and management, today announced the start of leasing at Residences Kierland, a mid-rise spa-centric community in Scottsdale’s burgeoning Kierland neighborhood.

The results of the trading session contributed to over 2852712 shares changing hands. Over the past one week, the price volatility of Lennar Corporation stands at 3.66% while the volatility over the past one month is 2.83%.

The market cap for LEN stock reached $23.25 billion, with 289.89 million shares outstanding and 263.46 million shares in the current float. Compared to the average trading volume of 2.77M shares, LEN reached a trading volume of 2852712 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Lennar Corporation [LEN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LEN shares is $91.65 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LEN stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Lennar Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on August 25, 2022. The new note on the price target was released on August 12, 2022, representing the official price target for Lennar Corporation stock. Previously, the target price had yet another drop from $83 to $80, while JP Morgan kept a Neutral rating on LEN stock.

The Average True Range (ATR) for Lennar Corporation is set at 2.61, with the Price to Sales ratio for LEN stock in the period of the last 12 months amounting to 0.78. The Price to Book ratio for the last quarter was 1.04, with the Price to Cash per share for the same quarter was set at 5.05. Price to Free Cash Flow for LEN in the course of the last twelve months was 16.14.

How has LEN stock performed recently?

Lennar Corporation [LEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.73. With this latest performance, LEN shares dropped by -6.14% in over the last four-week period, additionally sinking by -13.79% over the last 6 months – not to mention a drop of -28.64% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LEN stock in for the last two-week period is set at 36.38, with the RSI for the last a single of trading hit 28.18, and the three-weeks RSI is set at 41.80 for Lennar Corporation [LEN]. The present Moving Average for the last 50 days of trading for this stock 80.63, while it was recorded at 78.82 for the last single week of trading, and 88.19 for the last 200 days.

Lennar Corporation [LEN]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Lennar Corporation [LEN] shares currently have an operating margin of +18.75 and a Gross Margin at +27.06. Lennar Corporation’s Net Margin is presently recorded at +16.13.

Return on Equity for this stock inclined to 22.56, with Return on Assets sitting at 13.86.

Earnings analysis for Lennar Corporation [LEN]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LEN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Lennar Corporation go to 23.70%.

Insider trade positions for Lennar Corporation [LEN]

There are presently around $18,554 million, or 95.90% of LEN stock, in the hands of institutional investors. The top three institutional holders of LEN stocks are: VANGUARD GROUP INC with ownership of 28,187,618, which is approximately 0.492% of the company’s market cap and around 1.80% of the total institutional ownership; BLACKROCK INC., holding 21,628,493 shares of the stock with an approximate value of $1.68 billion in LEN stocks shares; and ARISTOTLE CAPITAL MANAGEMENT, LLC, currently with $1.15 billion in LEN stock with ownership of nearly -2.476% of the company’s market capitalization.

Positions in Lennar Corporation stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 343 institutional holders increased their position in Lennar Corporation [NYSE:LEN] by around 19,686,360 shares. Additionally, 410 investors decreased positions by around 17,731,934 shares, while 93 investors held positions by with 202,023,222 shares. The mentioned changes placed institutional holdings at 239,441,516 shares, according to the latest SEC report filing. LEN stock had 80 new institutional investments in for a total of 4,762,638 shares, while 116 institutional investors sold positions of 1,850,755 shares during the same period.


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