Citigroup Increases Lennar (NYSE:LEN) Price Target to $196.00

Lennar (NYSE:LEN) had its target price hoisted by research analysts at Citigroup from $164.00 to $196.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Citigroup’s price target points to a potential upside of 6.37% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. JMP Securities reiterated a “market outperform” rating and set a $170.00 target price on shares of Lennar in a research report on Thursday, June 20th. BTIG Research cut their price objective on shares of Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, June 20th. Wells Fargo & Company boosted their target price on shares of Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Evercore ISI raised their price target on Lennar from $237.00 to $240.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. boosted their price objective on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lennar has a consensus rating of “Hold” and a consensus price target of $179.72.

Lennar Stock Down 0.8 %

Lennar stock opened at $184.26 on Monday. The firm has a 50 day moving average price of $177.36 and a 200-day moving average price of $164.30. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. Lennar has a twelve month low of $102.90 and a twelve month high of $193.80. The company has a market capitalization of $50.60 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.61 and a beta of 1.61.

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

Institutional Trading of Lennar

A number of hedge funds have recently made changes to their positions in LEN. Lakewood Asset Management LLC raised its position in Lennar by 0.8% during the second quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock valued at $1,407,000 after purchasing an additional 70 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its position in Lennar by 1.5% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock worth $730,000 after buying an additional 73 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in Lennar by 5.7% in the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock worth $207,000 after buying an additional 74 shares in the last quarter. Quotient Wealth Partners LLC grew its position in Lennar by 5.0% during the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock valued at $231,000 after acquiring an additional 74 shares during the last quarter. Finally, BBR Partners LLC raised its stake in shares of Lennar by 3.4% during the second quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock worth $364,000 after acquiring an additional 79 shares in the last quarter. 81.10% of the stock is owned by 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.