Lennar (NYSE:LEN) PT Raised to $190.00

Lennar (NYSE:LEN) had its target price raised by research analysts at Bank Of America (Bofa) from $171.00 to $190.00 in a report released on Friday. The brokerage presently has a “neutral” rating on the construction company’s stock. Bank Of America (Bofa)’s price objective would suggest a potential upside of 4.29% from the stock’s current price.

Several other brokerages have also issued reports on LEN. BTIG Research cut their price target on Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Keefe, Bruyette & Woods raised their target price on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Bank of America boosted their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday. Raymond James lowered shares of Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Finally, Wedbush reissued a “neutral” rating and issued a $144.00 price target on shares of Lennar in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $174.61.

Lennar Stock Performance

Shares of NYSE:LEN opened at $182.19 on Friday. The business has a fifty day moving average of $176.53 and a 200-day moving average of $163.99. The firm has a market cap of $50.03 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. Lennar has a twelve month low of $102.90 and a twelve month high of $193.80.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The company had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same period in the previous year, the firm posted $3.91 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. On average, equities research analysts predict that Lennar will post 14.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Lennar

A number of hedge funds and other institutional investors have recently made changes to their positions in LEN. Gilbert & Cook Inc. increased its holdings in Lennar by 5.5% during the 4th quarter. Gilbert & Cook Inc. now owns 4,053 shares of the construction company’s stock worth $604,000 after purchasing an additional 211 shares in the last quarter. Gladstone Institutional Advisory LLC bought a new position in shares of Lennar during the fourth quarter worth about $218,000. Clearbridge Investments LLC raised its position in Lennar by 9.1% in the 4th quarter. Clearbridge Investments LLC now owns 31,158 shares of the construction company’s stock valued at $4,644,000 after buying an additional 2,595 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Lennar by 53.7% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 33,925 shares of the construction company’s stock valued at $5,056,000 after acquiring an additional 11,851 shares in the last quarter. Finally, FineMark National Bank & Trust bought a new position in shares of Lennar during the 4th quarter worth approximately $211,000. 81.10% of the stock is currently 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.