Lennar (NYSE:LEN) Price Target Raised to $190.00

Lennar (NYSE:LEN) had its price objective hoisted by Bank of America from $171.00 to $190.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Several other equities research analysts have also recently commented on the company. Evercore ISI increased their price objective on Lennar from $237.00 to $240.00 and gave the company an outperform rating in a research report on Monday, July 15th. Wedbush reissued a neutral rating and set a $144.00 price objective on shares of Lennar in a report on Wednesday, September 11th. Citigroup restated a neutral rating and issued a $164.00 target price (down previously from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. JMP Securities reissued a market outperform rating and set a $170.00 price target on shares of Lennar in a report on Thursday, June 20th. Finally, The Goldman Sachs Group lowered Lennar from a buy rating to a neutral rating and cut their price objective for the stock from $180.00 to $174.00 in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $174.61.

Lennar Price Performance

LEN opened at $182.19 on Thursday. Lennar has a 1 year low of $102.90 and a 1 year high of $193.80. The stock has a 50-day moving average price of $176.53 and a 200-day moving average price of $163.99. The firm has a market cap of $50.03 billion, a PE ratio of 12.39, a P/E/G ratio of 1.61 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating 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 firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter in the prior year, the company posted $3.91 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts predict that Lennar will post 14.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.