Lennox International

LII · NYSE

$363.77+$7.99 (+2.25%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $355.78

LII analyst rating

HoldConsensus of 14 analysts over the last 12 months. 14% rate it a buy.

Strong buy0
Buy2
Hold11
Underperform1
Sell0

12-month price target · 17 analysts

Average $491.78 (+35.2% upside)

Low: $378.75
Now: $363.77
High: $630.00

Upgrades and downgrades

The latest rating actions, newest first

LII analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Morgan Stanley	Oct 15, 2026	Maintains	Underweight	$375.00 → $350.00	52%
Mizuho	Oct 15, 2026	Maintains	Neutral	$450.00 → $395.00	66%
Goldman Sachs	Oct 14, 2026	Downgrade	Buy → Neutral	$547.00 → $390.00	59%
Oppenheimer	Oct 14, 2026	Maintains	Outperform	$575.00 → $548.00	59%
RBC Capital	Oct 14, 2026	Maintains	Sector Perform	$469.00 → $406.00	43%
Wells Fargo	Sep 25, 2026	Initiates	Equal-Weight	$424.00	60%
Deutsche Bank	Sep 14, 2026	Downgrade	Buy → Hold	$609.00 → $444.00	68%
Morgan Stanley	Sep 3, 2026	Maintains	Underweight	$450.00 → $375.00	52%
Goldman Sachs	Jul 31, 2026	Maintains	Buy	$625.00 → $547.00	59%
RBC Capital	Jul 30, 2026	Maintains	Sector Perform	$579.00 → $469.00	57%

The case for and against

Updated Jan 12, 2026

Bull case

Lennox International is positioned for a positive outlook in fiscal 2024, with consensus estimates projecting revenues of $1.47 billion, reflecting a 3% year-over-year growth. The company is benefiting from favorable market conditions, including the ending of destocking, anticipated lower interest rates, and an increase in home sales, which are expected to drive revenue growth across its residential HVAC, commercial HVAC, and Heatcraft refrigeration segments. Additionally, the company is likely to experience margin expansion due to continued factory productivity improvements and potential share gains in parts and emergency replacement markets.

Bear case

Lennox International reported a 23% volume decline in its Home Comfort segment, which exceeded expectations, primarily due to distributor destocking, sluggish residential construction activity, and an increased focus on repairs rather than replacements in a challenging consumer environment. The company's guidance revisions indicate a projected operating margin stagnation for both HVAC segments into 2025, compounded by an anticipated overall volume decline of 11%, reflecting ongoing market headwinds. Furthermore, Lennox's reduced earnings per share guidance from $23.25-$24.25 to $22.75-$23.25 signals a concerning outlook, particularly with expectations of approximately 20% decrementals for the entire business in the fourth quarter of 2025.

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