Bank Of America (Bofa) Boosts Lennar (NYSE:LEN) Price Target to $190.00

Lennar (NYSE:LEN) had its price target lifted by Bank Of America (Bofa) from $171.00 to $190.00 in a report issued on Friday. They currently have a neutral rating on the construction company’s stock.

A number of other brokerages have also recently issued reports on LEN. Royal Bank of Canada reissued an underperform rating and set a $145.00 price target on shares of Lennar in a research report on Thursday, June 20th. JPMorgan Chase & Co. dropped their price target on Lennar from $157.00 to $154.00 and set a neutral rating on the stock in a research report on Thursday, June 20th. Wedbush reaffirmed a neutral rating and set a $144.00 price objective on shares of Lennar in a research report on Friday. Citigroup reissued a neutral rating and issued a $164.00 target price (down from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. Finally, Raymond James downgraded Lennar from an outperform rating to a market perform rating in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $174.61.

Lennar Stock Performance

Lennar stock opened at $182.19 on Friday. Lennar has a fifty-two week low of $102.90 and a fifty-two week high of $193.80. The stock’s 50 day simple moving average is $176.53 and its two-hundred day simple moving average is $164.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. The stock has a market cap of $50.03 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.61 and a beta of 1.61.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LEN. Pacer Advisors Inc. grew its stake in shares of Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after purchasing an additional 396,951 shares during the period. D1 Capital Partners L.P. grew its position in Lennar by 428.9% during the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after buying an additional 1,962,447 shares during the period. Marshall Wace LLP increased its holdings in Lennar by 20.9% during the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after buying an additional 348,553 shares during the last quarter. Nordea Investment Management AB raised its position in Lennar by 3.6% in the first quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock worth $303,585,000 after acquiring an additional 60,713 shares during the period. Finally, Eminence Capital LP boosted its stake in shares of Lennar by 14.6% during the 2nd quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after acquiring an additional 83,316 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Company Profile

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.